Centre for Entrepreneurship, Leadership inaugurated at SZABIST

ISLAMABAD: The first Centre for Entrepreneurship and Leadership (CEL) by SME Business Support Fund (BSF) was inaugurated at SZABIST Islamabad by Ghalib Nishtar, President Khushhalibank.

Nishtar, while giving his key note speech appreciated the efforts of SME Business Support Fund in promotion of entrepreneurship in the country here on Monday, stressed that the economic growth today is possible only through encouragement of entrepreneurship and initiatives such as CEL will definitely pay dividends in terms of increased exports, enhanced GDP, job creation and improved overall competitiveness.

Syed Saquib Mohyuddin, CEO SME Business Support Fund said that the centre has been developed to compliment the policy objectives of the Government to support entrepreneurship in the country.

He said that the centre will act as a business incubation and support facility for the new entrepreneurs to develop fresh and innovative products and cater more effectively to the evolving needs of the domestic and international markets.

Mohyuddin further mentioned that as per the Global Entrepreneurship Monitor 2010, only 8% of population in Pakistan are currently involved in entrepreneurship activity, which is very low and needs to enhance through effective linkages between the academia and policy making organizations like BSF. The increased emphasis on entrepreneurship is the only way forward in terms of employment generation and revival of business activities in the country.

Mohyuddin also highlighted the upcoming BSF programs for entrepreneurship development included Franchising Pakistan and creation of an Entrepreneurship Support Fund for providing easy access to finance for new business start-ups.

Syed Asad Hussain, Director SZABIST in his opening remarks welcomed the initiative by BSF and assured that this centre will allow the university students to get practical support in their quest for new and successful business start-ups.

Other speakers including the National Institutional Advisor, Planning Commission, Vice President of the Islamabad Chamber of Commerce & Industry and Uzma Qureshi from United Nations, highlighted the role of entrepreneurship and its effects on the economic growth of Pakistan.

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