293 million, directing a major portion (56 percent) to the jute and cotton industries, with the remainder distributed across 33 other sectors such as shipping, cement, and glass.

1 million but was constrained by its focus on existing enterprises and lacked the capability to support new ventures or lend against future assets.

[1] The commission recommended transforming PIFCO into an entity geared towards supporting medium-scale industries, with a revised upper lending limit of Rs.

[1] Following these recommendations, the IDBP was created under the Industrial Development Bank of Pakistan Ordinance, inheriting PIFCO’s assets and liabilities.

[2] Over the years, however, the bank has become an institution fostering the growth of Small and Medium Enterprises in the rural/less developed regions of the country.

[4] The bank continued to struggle commercially and by end of 2009 the accumulated deficit had risen to Rs28 billion.