News: CSF Board okays four new projects
Name of NewsPaper: The Nation
Date of Publication: Tuesday, 30 october, 2007
URL: http://www.nation.com.pk/daily/oct-2007/30/bnews1.php

OUR STAFF REPORTER
ISLAMABAD - Aiming to generate an investment of $ 4.8 million and create 6200 new jobs the Competitiveness Support Fund (CSF) Board approved four new projects in the country.
The Board that met here on Monday under the Chair of Minister of State for Finance, Omar Ayub Khan, reviewed the current activities of the matching grant facility of the fund and okayed four innovative projects.

The ventures nodded for co-financing will generate a substantial new investment of $ 4.8 million and create more than 6,200 new jobs in the country.

CSF will be contributing a total amount of $411,000 for the four projects, which will generate an additional amount of $1.0 million from the stakeholders. The projects will support Cutlery, Medicinal Fruits, Engineering and the Dairy clusters in various regions of Pakistan. The projects will also impact competitiveness of the relevant clusters by increasing their export potential.

CSF’s investment is expected to create a multiplier effect, where every $1 of investment is expected to generate 12 times more new investment in the country. All approved projects will support public-private partnerships to link research and development institutions and private sector by involving a three-fold set of stakeholders, termed ‘Triple Helix’ by the economic leaders, which includes, private sector, academia, and government.

Chairing the third board meeting, Omar Ayub appreciated the progress made and achievements of CSF activities, especially with regard to impact on the economic growth strategy of the government of Pakistan. He said that CSF was critical to identify economic sectors that have competitive advantage to grow.

He further said that CSF was the unique platform of competitiveness activities in Pakistan, where public and private sector, and academia as well as media can meet and create value towards sustained economic growth in Pakistan.

Arthur Bayhan, Chief Executive Officer of the CSF, presented the progress report to the board members. He also briefed the board on the policy assistance of the CSF.

The board was also informed about the various sectoral policy analyses that the Fund has carried out to identify the sectors that have the competitive advantage and potential to grow.
Bayhan also briefed the board about the CSF study on the Competitive Aspects of the Food Processing Sector in Pakistan - Obstacles and Prospects; which has resulted in Action Plans for the Horticulture and Meat Sectors.

The Board was briefed on CSF’s agreements and the Memorandum of Understandings (MoU) to improve Pakistan’s economic competitiveness with leading national and international institutions including the World Economic Forum (WEF), The Competitiveness Institute (TCI), Higher Education Commission of Pakistan (HEC), Government of Sindh (GoS), Pakistan Agriculture Research Council (PARC), Board of Investment (BOI), Pakistan Business Council (PBC) and the FATA Secretariat.