Islamabad: The International Organization for Migration (IOM) Pakistan has announced plans to offer cash grants ranging from 1 million PKR to 5 million PKR to small and medium enterprises. The Enterprise Development Fund aims to support business expansion, improve productivity, and create new jobs.
Eligible businesses must have between 3 to 50 employees and have been operational since 2022 or earlier. Additionally, they must be owned and managed in Pakistan and have the capability to generate new employment opportunities.
The initiative targets specific districts across the country. In Balochistan, businesses in Quetta, Pishin, Killa Saifullah, and Loralai can apply. In the Islamabad and Punjab regions, the fund is open to enterprises in Islamabad, Rawalpindi, and Attock. For Khyber Pakhtunkhwa, the eligible districts include Peshawar, Charsadda, Nowshera, Mardan, and Mansehra, while in Sindh, businesses in Karachi are invited to apply.
The grants are available to businesses operating in various sectors, including crops, information and communication, manufacturing, livestock, mining and quarrying, transportation and storage, construction, and wholesale and retail.
Pak NGOs provided this information, emphasizing the potential impact of the grants in fostering business growth and employment.