Ahmed Khan Malik

The Balochistan Enterprise Development Fund (BEDF) has decided to promote small and medium businesses in the province, which lag behind other provinces in business and trade, reports WealthPK. The provincial government has set aside Rs2.0 billion in the current financial year for the BEDF, aiming to provide interest-free loans to small and medium businesses for expansion. “The provincial government is also framing the expenditure policy of the Fund to achieve the objectives and deliver collective beneficial results to society,” Shams Rind, Coordinator of the BEDF, told WealthPK.  He said the development of the industrial sector is a priority for the provincial government after the agriculture sector. The small and medium business sector related to the industry is the main source of job creation, he added. Shams said the basic infrastructure of roads is being provided, and human resources are being developed to create a more conducive environment for investors.

The open policy of investment offers all incentives, concessions, and facilities without discrimination. The government offers unique features giving other complementary conditions for investment in the province. The BEDF coordinator further told WealthPK that a number of sectors have been identified which are expected to be particularly attractive for foreign and local investment. Agriculture and livestock dominate Balochistan’s economy. Horticulture development is a fairly recent phenomenon with great potential. The other economic sectors where the investment rate is high include fisheries, mining, manufacturing industries, trade, and other services rendered by the public and private sector organizations. Shams said the government has also provided facilities to the industrial estates which cater to all types of industrial needs and are well supplied with a wide range of infrastructure and related services. These estates include Quetta Industrial & Trading Estate, Hub Industrial & Trading Estate (HITE), Uthal Industrial Estate, and Marble City.

The major sectors for investment in Balochistan are minerals, agriculture, horticulture, fisheries, livestock, tourism, and oil & gas. He said through the Balochistan Investment Guide, information is being provided about the potential sectors coupled with the tariff structure and regulatory framework to facilitate investors. The Guide presents an overview of potential opportunities in high-return sectors, projects, and important contact points for doing business in Balochistan. He pointed out that the Small & Medium Enterprises Development Authority (SMEDA) Regional Office in Quetta and RBCs in Gwadar, Hub and Loralai are working in close coordination with the relevant provincial and federal government organizations, chambers, associations, donors, and multinationals to facilitate and support investors in general and SMEs in particular. Shams said BEDF is one part of the strategy to promote businesses in the province, create jobs and contribute more to the national economy.

Credit: INP-WealthPk