News: CSF acknowledges contribution of female students,faculty members of LCWU
Name of the Newspaper: Associated Press of Pakistan
Date of publication: Friday, 04 July, 2008
Website:

ISLAMABAD, Jul 3 (APP): The Competitiveness Support Fund (CSF) here on Thursday launched a brochure on its Business Incubator, Matching Grants Facility, to promote its co-financing initiatives for micro enterprises in Pakistan.

The Business Incubator/Matching Grants Facility focuses on developing grant based projects for up-gradation of economic competitiveness at a micro level, said CSF press release here.

This is done through providing financial assistance through a grant to support developing a knowledge-based enterprise sector in Pakistan, it added.

CSF has estimated that more than USD 10.5 million (630 million Rupees) of new investment will result from these projects for a total project cost of USD 2.8 million (168 million Rupees).

More than 90 new business and enterprises are expected to emerge from this initiative, creating more than 11,500 jobs in Pakistan.

The CSF Matching Grants and Business Incubator facility is open to all sectors of Pakistan’s economy with a focus on becoming competitive in products or services they are offering.

CSF grant projects are selected on the basis of fair and objective set of criteria that match international best practices and benchmarks.

However main focus of selection is carried out on the basis of the project’s potential to generate jobs, increase income, improve quality of products and services and promote trade and investment, the press release added.

The engagement of women employment is also a strong focal area in the selection of sponsoring projects, as CSF emphasizes on women development as a crucial element in contributing to a sustainable economic growth.

Arthur Bayhan, Chief Executive Officer CSF stated that the fund Board has already approved 10 innovative projects for implementation under its Matching Grants Window.

“These projects are focused on providing the necessary finance for innovation, technology transfer, skill development, vocational training and women’s development”.

The matching grant projects are mainly focused on agricultural and industrial clusters and associations and are being reached with projects from the Mohmand Agency in FATA to Quetta, Karachi and Lahore.

The Matching Grants facility carries the objectives of supporting projects from across the country to showcase innovation and enhance the competitiveness of the economic sectors through pilot initiatives, the press release added.