Rs31.62mn OKed for R&D cells in KP

PESHAWAR: The Ministry of Commerce has approved Rs.31.62 million for the establishment of Research and Development Cells in three chambers of Khyber Pakhtunkhwa (KP).

The approval was given in the meeting of the Board of Administrators
EDF Board held under the chairmanship of Federal Minister for Commerce, Makhdoom Amin Fahim.

The fund would be utilized for establishment Research and
Development Centers at Haripur Chamber of Commerce & Industry (HCCI), Tribal Area Chamber of Commerce & Industry (TACCI) and Dera Ismail Khan Chamber of Commerce & Industry (DCCI).

Out of the total amount of Rs.31.62 million HCCI will get Rs.6.78 million, TACCI, Rs.19.94 million and Rs.4.90 million for Dera Chamber respectively.

Talking to APP Sarmad Hussein Khan, Manager Smeda, Khyber Pakhtunkhwa Research and Development (R&D) is nowadays of great importance in business as the level of competition, production processes and methods are rapidly increasing.

It is of special importance in the field of marketing where SMEs eagle-eye the competitors and customers in order to keep pace with modern trends and analyze the needs, demands and desires of their customers.

The EDF support of Rs.31.62 million will help in strengthening of these Chambers. These funds will be utilized to develop the chambers by establishing Research & Development Centers.

These projects will be implemented through separate project staff hired for the implementation purpose. The Smeda Khyber Pakhtunkhwa would provide key institutional/technical support to respective chambers for proper implementation of these projects. (APP)