SME sector can be a tremendous engine for employment and GDP growth in Pakistan: Asad Shafqat
\nOur Correspondent
\nIslamabad
\nThe US government, in partnership with three investment funds, is managing a pool of more than 15.6 billion Pakistani rupees to invest in Pakistan\u2019s dynamic small and medium-sized businesses.
\nUnder the Pakistan Private Investment Initiative (PPII), a program of the U.S. Agency for International Development (USAID), the U.S. is capitalizing on the expertise of these investment funds to make investment decisions that will, spur economic growth, and generate profits for investors.
\nThe USAID Mission Director for Pakistan John Groarke announced that all three private equity funds established under the PPII are making investments.
\nThe PPII consists of the Abraaj Pakistan Fund, the Pakistan Catalyst Fund, and the Boltoro Growth Fund, three professionally managed investment funds that provide equity capital for Pakistan\u2019s fast-growing small- and medium-sized businesses. The USAID program has provided 2,496 million Pakistani rupees for each fund, for a total contribution of nearly 7.5 billion Pakistani rupees, and the three funds have each matched or exceeded the USAID contribution.
\n\u201cThe PPII design is unique in partnering with local investment firms to support the SME sector to grow and thrive,\u201d Groarke said. \u201cWith the matching contributions from the three partner investment firms, PPII is eventually going to make more than 15.6 billion Pakistani rupees in equity financing available to selected SMEs. This clearly demonstrates the interest of private equity firms and the value of investing in Pakistan.\u201d
\nThe CEO of the Pakistan Catalyst Fund, Asad Shafqat said, \u201cThe SME sector can be a tremendous engine for employment and GDP growth in Pakistan.\u201d
\nAli Saigol, CEO of the Baltoro Fund said, \u201cThe Pakistan Private Investment Initiative has successfully aligned USAID\u2019s development objectives with private investor interests, thus establishing a sustainable platform that will support SME growth for decades to come. We hope this will serve as a template for future public-private partnerships.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
SME sector can be a tremendous engine for employment and GDP growth in Pakistan: Asad Shafqat Our Correspondent Islamabad The US government, in partnership with three investment funds, is managing a pool of more than 15.6 billion Pakistani rupees to invest in Pakistan\u2019s dynamic small and medium-sized businesses. Under the Pakistan Private Investment Initiative (PPII), […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-14294","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-top-news"},"yoast_head":"\n