Day care center

Pre-Feasibility Study

Prime Minister’s Small Business Loan Scheme

Day Care Center

Small and Medium Enterprises Development Authority

Ministry of Industries & Production Government of Pakistan

www.smeda.org.pk

HEAD OFFICE 4th Floor, Building No. 3, Aiwan-e-Iqbal Complex, Egerton Road,

Lahore Tel: (92 42) 111 111 456, Fax: (92 42) 36304926-7

[email protected]

REGIONAL OFFICE PUNJAB

REGIONAL OFFICE SINDH

REGIONAL OFFICE KPK

REGIONAL OFFICE BALOCHISTAN

3rd Floor, Building No. 3, Aiwan-e-Iqbal Complex,

Egerton Road Lahore, Tel: (042) 111-111-456 Fax: (042) 36304926-7

[email protected]

5TH Floor, Bahria Complex II, M.T. Khan Road,

Karachi. Tel: (021) 111-111-456

Fax: (021) 5610572 [email protected]

Ground Floor State Life Building

The Mall, Peshawar. Tel: (091) 9213046-47


Bungalow No. 15-A Chaman Housing Scheme

Airport Road, Quetta. Tel: (081) 831623, 831702


September 2013

mailto:[email protected]



Pre-feasibility Study Day Care Center

Table of Contents 1 Disclaimer ............................................................................................................................... 1 2 Purpose of the Document ........................................................................................................ 2 3 Introduction to SMEDA .......................................................................................................... 2 4 Introduction to Scheme ........................................................................................................... 2 5 Executive Summary ................................................................................................................ 3 6 Brief Description of Project & Product .................................................................................. 3 7 Critical Factors in Decision Making ....................................................................................... 4 8 Installed & Operational Capacities ......................................................................................... 4 9 Geographical Potential for Investment ................................................................................... 4 10 Potential Target Markets & Cities .......................................................................................... 5 11 Project Cost Summary ............................................................................................................ 5

11.1 Project Economics .......................................................................................................... 5 11.2 Project Financing ............................................................................................................ 6 11.3 Project Cost ..................................................................................................................... 6 11.4 Space Requirement ......................................................................................................... 6 11.5 Equipment Requirement ................................................................................................. 7 11.6 Furniture & Fixtures Requirement .................................................................................. 7 11.7 Human Resource Requirement ....................................................................................... 8 11.8 Revenue Generation ........................................................................................................ 8 11.9 Other Costs...................................................................................................................... 9

12 Contacts – Suppliers, Experts / Consultants, Dev. Institutions............................................... 9 13 Annexure ............................................................................................................................... 10

13.1 Income Statement.......................................................................................................... 10 13.2 Balance Sheet ................................................................................................................ 11 13.3 Statement of Cash Flow ................................................................................................ 12 13.4 Useful Project Management Tips.................................................................................. 13 13.5 Useful Links .................................................................................................................. 14

14 Key Assumptions .................................................................................................................. 15

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11 DDIISSCCLLAAIIMMEERR This information memorandum is to introduce the subject matter and provide a general idea and information on the said matter. Although, the material included in this document is based on data/information gathered from various reliable sources; however, it is based upon certain assumptions which may differ from case to case. The information has been provided on as is where is basis without any warranties or assertions as to the correctness or soundness thereof. Although, due care and diligence has been taken to compile this document, the contained information may vary due to any change in any of the concerned factors, and the actual results may differ substantially from the presented information. SMEDA, its employees or agents do not assume any liability for any financial or other loss resulting from this memorandum in consequence of undertaking this activity. The contained information does not preclude any further professional advice. The prospective user of this memorandum is encouraged to carry out additional diligence and gather any information which is necessary for making an informed decision, including taking professional advice from a qualified consultant/technical expert before taking any decision to act upon the information.

For more information on services offered by SMEDA, please contact our website: www.smeda.org.pk

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http://www.smeda.org.pk/


22 PPUURRPPOOSSEE OOFF TTHHEE DDOOCCUUMMEENNTT The objective of the pre-feasibility study is primarily to facilitate potential entrepreneurs in project identification for investment. The project pre-feasibility may form the basis of an important investment decision and in order to serve this objective, the document/study covers various aspects of project concept development, start-up, and production, marketing, finance and business management.

The purpose of this document is to facilitate potential investors in Day Care Center by providing them with a general understanding of the business with the intention of supporting potential investors in crucial investment decisions.

The need to come up with pre-feasibility reports for undocumented or minimally documented sectors attains greater imminence as the research that precedes such reports reveal certain thumb rules; best practices developed by existing enterprises by trial and error, and certain industrial norms that become a guiding source regarding various aspects of business set-up and it’s successful management.

Apart from carefully studying the whole document one must consider critical aspects provided later on, which form basis of any Investment Decision.

33 IINNTTRROODDUUCCTTIIOONN TTOO SSMMEEDDAA The Small and Medium Enterprises Development Authority (SMEDA) was established in October 1998 with an objective to provide fresh impetus to the economy through development of Small and Medium Enterprises (SMEs).

With a mission "to assist in employment generation and value addition to the national income, through development of the SME sector, by helping increase the number, scale and competitiveness of SMEs" , SMEDA has carried out ‘sectoral research’ to identify policy, access to finance, business development services, strategic initiatives and institutional collaboration and networking initiatives.

Preparation and dissemination of prefeasibility studies in key areas of investment has been a successful hallmark of SME facilitation by SMEDA.

Concurrent to the prefeasibility studies, a broad spectrum of business development services is also offered to the SMEs by SMEDA. These services include identification of experts and consultants and delivery of need based capacity building programs of different types in addition to business guidance through help desk services.

44 IINNTTRROODDUUCCTTIIOONN TTOO SSCCHHEEMMEE Prime Minister’s ‘Small Business Loans Scheme’, for young entrepreneurs, with an allocated budget of Rs. 5.0 Billion for the year 2013-14, is designed to provide

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subsidised financing at 8% mark-up per annum for one hundred thousand (100,000) beneficiaries, through designated financial institutions, initially through National Bank of Pakistan (NBP) and First Women Bank Ltd. (FWBL).

Small business loans with tenure upto 7 years, and a debt : equity of 90 : 10 will be disbursed to SME beneficiaries across Pakistan, covering; Punjab, Sindh, Khyber Pakhtunkhwah, Balochistan, Gilgit Baltistan, Azad Jammu & Kashmir and Federally Administered Tribal Areas (FATA).

55 EEXXEECCUUTTIIVVEE SSUUMMMMAARRYY Day Care Center is proposed to be located in major cities as Islamabad, Lahore, Karachi and Quetta etc. Life, today, is characterized by independent family systems, need for improved living standards, quality education for children, etc resulting in increased pressure on working women to efficiently manage both their professions and domestic responsibilities. The demand for day care centers is on the rise, specifically by working mothers, and the service is deemed as a profitable social entrepreneurship opportunity.

The project features a facility and its ancillary services for children aged 6 months to 5 years in a hygienic and activity based educational environment through trained and educated staff.

The project can be used for a maximum of 40 enrolments, however, keeping in view the rationale and demand; calculations have been made on the assumption of 24 enrolments for the first year of operations.

Total cost estimate of the project is Rs. 1.42 Million with a fixed investment of Rs. 0.84 Million and a working capital of Rs. 0.58 Million.

Given the cost assumptions IRR and payback are 62% and 1.92 years, respectively.

The most critical considerations or factors for success of the project are:

• Most Significant Consideration: Commercial area, accessible and secure area

• Equally Important Factor: Admission Time

66 BBRRIIEEFF DDEESSCCRRIIPPTTIIOONN OOFF PPRROOJJEECCTT && PPRROODDUUCCTT • Techniques: This proposed unit would be established with modern learning

techniques and extracurricular activities.

• Location: The unit would be located in metropolitan cities of Pakistan i.e. Lahore, Islamabad, Quetta, Peshawar, Karachi and smaller cities.

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• Product: The Day Care Centre will offer a hygienic and efficiently managed care facility for children.

• Target Market: Working mothers; doctors, teachers, bankers, etc.

• Employment Generation: Direct employment to 6 people. Financial analysis shows the unit shall be profitable from the very first year of operation.

77 CCRRIITTIICCAALL FFAACCTTOORRSS IINN DDEECCIISSIIOONN MMAAKKIINNGG • Center’s environment should ensure security and should be free from any apparent

hazard.

• The center should be preferably located in a commercial area.

• Frequent care provider – parent interactions should also be a regular feature of the center’s day care system.

• The center should be started at least one week prior to the ending of winter vacations so that proper promotion and management of admissions are conducted.

• A well-trained/experienced care provider will ensure value added service delivery.

• It is recommended that the proposed project should be established in a rented building to reduce the project cost.

88 IINNSSTTAALLLLEEDD && OOPPEERRAATTIIOONNAALL CCAAPPAACCIITTIIEESS It is proposed that infants age of more than 6 months and up to 5 years age children would be enrolled in the center. Initially day care center growth would be 60% in the first year, where 24 kids would be enrolled. However, this capacity may not be achieved in the initial years of operations.

99 GGEEOOGGRRAAPPHHIICCAALL PPOOTTEENNTTIIAALL FFOORR IINNVVEESSTTMMEENNTT The fast paced life of the cities is significantly influencing the life style of its inhabitants. Economic pressures are compelling both parents to work towards achieving and sustaining quality life standards. This has further added to complexity and competition of any Metropolitan city. As a result of these social changes, the trend of sending children to Day Care Centers at a much earlier age is gaining rapid grounds. Major cities of Pakistan have great potential for this project, e.g, Karachi, Islamabad, Lahore, Peshawar and Quetta.

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1100 PPOOTTEENNTTIIAALL TTAARRGGEETT MMAARRKKEETTSS && CCIITTIIEESS The Day Care Center has targeted the working women and the business community having infants of age more than 6 months to children of age up to 5 years. The target population of the working women consists of the women with pre-school going children. The business community also has positive response since they too are very much involved in their daily routines and therefore can be targeted as potential customers.

Keeping in view economic and social factors, it is recommended that the proposed project may be established in major cities such as Islamabad, Lahore, Quetta, Karachi and Peshawar etc. However the project may be open in other cities and towns after careful market analysis.

1111 PPRROOJJEECCTT CCOOSSTT SSUUMMMMAARRYY A detailed financial model has been developed to analyze the commercial viability of Day Care Center under the Prime Minister’s Small Business Loan Scheme. Various cost and revenue related assumptions along with results of the analysis are outlined in this section. The projected Income Statement, Cash Flow Statement and Balance Sheet are attached as appendix.

1111..11 PPrroojjeecctt EEccoonnoommiiccss The proposed intervention has the capacity of 40 enrolments however a target of 24 enrolments is assumed in Year 1 of Day Care Center. The following table shows internal rates of return and payback period.

TTaabbllee 11:: PPrroojjeecctt EEccoonnoommiiccss Description Details

Internal Rate of Return (IRR) 62% Payback Period (yrs) 1.92 Net Present Value (NPV) 4,224,856

Returns on the scheme and its profitability are highly dependent on the efficiency of location, staff, hygienic environment, safety, curricular & extracurricular activities. In case Day Care Center is not very efficient, it will not be able to cover the potential and recover payments.

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1111..22 PPrroojjeecctt FFiinnaanncciinngg Following table provides details of the equity required and variables related to bank loan;

Table 2: Project Financing Description Details

Total Equity (10%) Rs.142,028 Bank Loan (90%) Rs.1,278,252 Markup to the Borrower 8% Tenure of the Loan (Years) 7

1111..33 PPrroojjeecctt CCoosstt

Following requirements have been identified for operations of the proposed business.

Table 3: Capital Investment for the Project Capital Investment Amount (Rs.) Building/Infrastructure - Office Equipment 5,000 Furniture & Fixtures 483,000 Machinery & Equipment 274,000 Pre Operating Cost 78,280 Total Capital Costs 840,280 Initial Working Capital 580,000 Total Project Cost 1,420,280

1111..44 SSppaaccee RReeqquuiirreemmeenntt It is recommended that the proposed project should be established in a rented building, preferably a one kanal (4,500 sq.ft.) house with two bedrooms and attached bath, one drawing and dining rooms each, one kitchen and a reasonable front / back yard to reduce project cost. In case a purpose built building is purchased, project cost will increase. The rent for the building is assumed Rs. 40,000 per month.

Table 4: Space Requirement Description Sq .ft Required Building Covered Area 2,000 Play Area / Grounds 2,500 Total Building Area 4,500

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1111..55 EEqquuiippmmeenntt RReeqquuiirreemmeenntt The basic requirements for a daycare center includes activity based equipments for outdoor activities (slides, merry-go-round, swings, etc.), equipments for indoor activities (soft boards, white boards, books, etc.), kitchen equipment (microwave, refrigerator) and entertainment and sleeping fixtures and equipment (T.V., DVD player), all of which are readily available in the local market. Details of the equipment are given as below, for a sum total of Rs. 274,000 only:

Table 5: Equipment Detail Equipment Details Qty Cost/Uni

t Total Cost

Slide (Iron) 1 15,000 15,000 Merry-Go-Round 1 20,000 20,000 Swings (Outdoor) (3 Seater) 2 30,000 60,000 Monkey Bar 2 10,000 20,000 Baby Eating Seat 2 8,000 16,000 Baby Rocker / Swing Chair 2 4,000 8,000 Sleeping Cot 3 10,000 30,000 Beds (Single + Mattress) 5 10,000 50,000 White Board 5 1,500 7,500 Soft Boards 5 1,500 7,500 Cooking Range / Burner Stove 1 3,000 3,000 Microwave 1 7,000 7,000 Refrigerator 1 25,000 25,000 Kitchen Utensils 1 5,000 5,000 Total Machinery & Equipment 274,000

1111..66 FFuurrnniittuurree && FFiixxttuurreess RReeqquuiirreemmeenntt Furniture & fixtures requirement for the project is detailed as under: Table 6: Furniture & Fixture Detail Description Qty Cost/Uni

t Total Cost

Office Chairs 2 5,000 10,000 Office Table 1 10,000 60,000 Sofa Cum Bed 2 10,000 20,000

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Seating Chairs (Children) 24 2,000 48,000 Book Rack (Library) 2 5,000 10,000 Eating Table 2 15,000 30,000 Electric Wiring 1 5,000 5,000 Cupboards & Book Shelves 10 6,500 65,000 Carpet 2,000 30 60,000 Television 1 40,000 100,000 Air Conditions (1.5 Window) 4 55,000 220,000 Total Furniture & Fixtures 483,000

1111..77 HHuummaann RReessoouurrccee RReeqquuiirreemmeenntt The manpower required for operating the Day Care Center is as follows:

Table 7: Human Resource Detail Description Qty Salary Total Monthly Salary

Owner / Manager 1 20,000 20,000 Nannies 4 10,000 40,000 Guard 1 10,000 10,000 Total 6 75,000

It is highly recommended that the nannies should be qualified females of age range from 18 to 30 to ensure the parents about their child’s proper care and safety. The nannies should be at least matriculates and should go from a proper child care training program before having the job responsibilities.

1111..88 RReevveennuuee GGeenneerraattiioonn It is proposed that infants of more than 6 months of age to children of 5 years of age be enrolled in the center. The project would have a total capacity of 40 students. However, keeping in view the market analysis, it is assumed the project capacity would be around 24 enrolments in year 1 of its operation.

Table 8: Revenue Detail Fees / month (Rs./Unit) First Year

Enrolment Monthly

Revenue (Rs) 9,000 24 216,000

Annual Revenue 2,592,000

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1111..99 OOtthheerr CCoossttss The primary overhead cost of the project would be utilities as electricity, gas & water and cost of fuel must be kept in mind for generator expenses.

Electricity Price Growth Rate 10% Gas Price Growth Rate 10% Water Price Growth Rate 10% Salary Growth Rate 10% Rent Growth Rate 10% Student Fee Growth Rate 10% Contacts – Suppliers, Experts / Consultants, Dev. Institutions Below is the list of major suppliers of Children Toys for Day Care Center:

1. Babyland Toys

1st Floor, Sheikh Innayat-Ullah Building, Liberty Market, Gulberg 3, Lahore Pakistan Tel: 042-35757468, Mob: 0336-4050607 http://www.babyland.com.pk/

2. Kaymu Toys Arfa Software Technology Park 346-B

Ferozpur Road Lahore, Pakistan http://www.kaymu.pk

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http://www.babyland.com.pk/


1122 AANNNNEEXXUURREE 1122..11 IInnccoommee SSttaatteemmeenntt

Statement Summaries SMEDAIncome Statement

Rs. in actualsYear 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10

Revenue 2,592,000 2,948,400 3,333,960 3,750,705 4,200,790 4,686,506 5,210,292 5,470,806 5,744,347 6,031,564 Cost of goods sold - - - - - - - - - -

Gross Profit 2,592,000 2,948,400 3,333,960 3,750,705 4,200,790 4,686,506 5,210,292 5,470,806 5,744,347 6,031,564

General administration & selling expensesAdministration expense 840,000 924,000 1,016,400 1,118,040 1,229,844 1,352,828 1,488,111 1,636,922 1,800,615 1,980,676 Rental expense 480,000 528,000 580,800 638,880 702,768 773,045 850,349 935,384 1,028,923 1,131,815 Utilities expense 480,000 528,000 580,800 638,880 702,768 773,045 850,349 935,384 1,028,923 1,131,815 Travelling & Comm. expense (phone, fax, etc.) - - - - - - - - - - Office vehicles running expense - - - - - - - - - - Office expenses (stationary, etc.) - - - - - - - - - - Promotional expense 51,840 58,968 66,679 75,014 84,016 93,730 104,206 109,416 114,887 120,631 Insurance expense - - - - - - - - - - Professional fees (legal, audit, etc.) - - - - - - - - - - Depreciation expense 76,200 76,200 76,200 76,200 76,200 76,200 76,200 76,200 76,200 76,200 Amortization expense 15,656 15,656 15,656 15,656 15,656 - - - - - Property tax expense - - - - - - - - - - Miscellaneous expense 60,000 66,000 72,600 79,860 87,846 96,631 106,294 116,923 128,615 141,477

Subtotal 2,003,696 2,196,824 2,409,135 2,642,530 2,899,098 3,165,479 3,475,509 3,810,230 4,178,162 4,582,614 Operating Income 588,304 751,576 924,825 1,108,175 1,301,692 1,521,027 1,734,783 1,660,577 1,566,185 1,448,950

Other income - - - - - - - - - - Gain / (loss) on sale of assets - - - - - - - - - - Earnings Before Interest & Taxes 588,304 751,576 924,825 1,108,175 1,301,692 1,521,027 1,734,783 1,660,577 1,566,185 1,448,950

Interest expense 98,065 86,343 73,656 59,922 45,057 28,966 11,549 - - - Earnings Before Tax 490,239 665,233 851,169 1,048,253 1,256,635 1,492,061 1,723,234 1,660,577 1,566,185 1,448,950

Tax - - - - 123,128 233,288 261,235 291,612 324,542 360,762

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1122..22 BBaallaannccee SShheeeett

Statement Summaries SMEDABalance Sheet

Rs. in actualsYear 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10

AssetsCurrent assets

Cash & Bank 540,000 975,901 1,547,358 2,267,683 3,141,428 4,177,026 5,375,233 6,740,514 8,283,800 9,750,794 11,225,860 Pre-paid building rent 40,000 44,000 48,400 53,240 58,564 64,420 70,862 77,949 85,744 94,318 -

Total Current Assets 580,000 1,019,901 1,595,758 2,320,923 3,199,992 4,241,446 5,446,096 6,818,463 8,369,544 9,845,112 11,225,860

Fixed assetsMachinery & equipment 274,000 246,600 219,200 191,800 164,400 137,000 109,600 82,200 54,800 27,400 - Furniture & fixtures 483,000 434,700 386,400 338,100 289,800 241,500 193,200 144,900 96,600 48,300 - Office vehicles - - - - - - - - - - - O Educational Tools 5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 -

Total Fixed Assets 762,000 685,800 609,600 533,400 457,200 381,000 304,800 228,600 152,400 76,200 -

Intangible assetsPre-operation costs 78,280 62,624 46,968 31,312 15,656 - - - - - - Legal, licensing, & training costs - - - - - - - - - - -

Total Intangible Assets 78,280 62,624 46,968 31,312 15,656 - - - - - - TOTAL ASSETS 1,420,280 1,768,325 2,252,326 2,885,635 3,672,848 4,622,446 5,750,896 7,047,063 8,521,944 9,921,312 11,225,860

Liabilities & Shareholders' EquityCurrent liabilitiesTotal Current Liabilities - - - - - - - - - - -

Other liabilitiesLong term debt 1,278,252 1,136,058 982,143 815,540 635,204 440,002 228,710 - - - -

Total Long Term Liabilities 1,278,252 1,136,058 982,143 815,540 635,204 440,002 228,710 - - - -

Shareholders' equityPaid-up capital 142,028 142,028 142,028 142,028 142,028 142,028 142,028 142,028 142,028 142,028 142,028 Retained earnings - 490,239 1,128,156 1,928,067 2,895,616 4,040,416 5,380,158 6,905,035 8,379,916 9,779,284 11,083,832

Total Equity 142,028 632,267 1,270,184 2,070,095 3,037,644 4,182,444 5,522,186 7,047,063 8,521,944 9,921,312 11,225,860 TOTAL CAPITAL AND LIABILITI 1,420,280 1,768,325 2,252,326 2,885,635 3,672,848 4,622,446 5,750,896 7,047,063 8,521,944 9,921,312 11,225,860

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1122..33 SSttaatteemmeenntt ooff CCaasshh FFllooww

Statement Summaries SMEDACash Flow Statement

Rs. in actualsYear 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10

Operating activitiesNet profit - 490,239 637,916 799,912 967,549 1,144,800 1,339,742 1,524,877 1,474,881 1,399,368 1,304,548 Add: depreciation expense - 76,200 76,200 76,200 76,200 76,200 76,200 76,200 76,200 76,200 76,200 amortization expense - 15,656 15,656 15,656 15,656 15,656 - - - - - Pre-paid building rent (40,000) (4,000) (4,400) (4,840) (5,324) (5,856) (6,442) (7,086) (7,795) (8,574) 94,318

Cash provided by operations (40,000) 578,095 725,372 886,927 1,054,081 1,230,800 1,409,500 1,593,991 1,543,287 1,466,994 1,475,066

Financing activitiesChange in long term debt 1,278,252 (142,194) (153,915) (166,603) (180,336) (195,202) (211,293) (228,710) - - - Issuance of shares 142,028 - - - - - - - - - -

Cash provided by / (used for) financ 1,420,280 (142,194) (153,915) (166,603) (180,336) (195,202) (211,293) (228,710) - - -

Investing activitiesCapital expenditure (840,280) - - - - - - - - - -

Cash (used for) / provided by invest (840,280) - - - - - - - - - -

NET CASH 540,000 435,901 571,457 720,325 873,745 1,035,598 1,198,207 1,365,281 1,543,287 1,466,994 1,475,066

Cash balance brought forward 540,000 975,901 1,547,358 2,267,683 3,141,428 4,177,026 5,375,233 6,740,514 8,283,800 9,750,794 Cash available for appropriation 540,000 975,901 1,547,358 2,267,683 3,141,428 4,177,026 5,375,233 6,740,514 8,283,800 9,750,794 11,225,860 Dividend - - - - - - - - - - - Cash carried forward 540,000 975,901 1,547,358 2,267,683 3,141,428 4,177,026 5,375,233 6,740,514 8,283,800 9,750,794 11,225,860

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Pre-feasibility Study

1122..44 UUsseeffuull PPrroojjeecctt MMaannaaggeemmeenntt TTiippss Technology

• Required spare parts & consumables: Suppliers credit agreements and availability as per schedule of maintenance be ensured before start of operations

• Energy Requirement: Should not be overestimated or installed in excess and alternate source of energy for critical operations be arranged in advance

• Machinery Suppliers: Should be asked for training and after sales services under the contract with the machinery suppliers

• Quality Assurance Equipment & Standards: Whatever means required products quality standards need to be defined on the packaging and a system to check them instituted, this improves credibility

Marketing

• Product Development & Packaging: Expert's help may be engaged for product/service and packaging design & development

• Ads & P.O.S. Promotion: Business promotion and dissemination through banners and launch events is highly recommended. Product broachers from good quality service providers

• Sales & Distribution Network: Expert's advise and distribution agreements are required with.

• Price - Bulk Discounts, Cost plus Introductory Discounts: Price should never be allowed to compromise quality. Price during introductory phase may be lower and used as promotional tool. Product cost estimates should be carefully documented before price setting. Government controlled prices shall be displayed.

Human Resources

• Adequacy & Competencies: Skilled and experienced staff should be considered an investment even to the extent of offering share in business profit.

• Performance Based Remuneration: Attempt to manage human resource cost should be focused through performance measurement and performance based compensation.

• Training & Skill Development: Encouraging training and skill of self & employees through experts and exposure of best practices is route to success. Least cost options for Training and Skill Development (T&SD) may be linked with compensation benefits and awards.

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1122..55 UUsseeffuull LLiinnkkss • Prime Minister’s Office

www.pmo.gov.pk

• Small & Medium Enterprises Development Authority (SMEDA)

www.smeda.org.pk

• National Bank of Pakistan (SBP)

www.nbp.com.pk

• First Women Bank Limited (FWBL)

www.fwbl.com.pk

• Government of Pakistan

www.pakistan.gov.pk

• Ministry of Industries & Production

www.moip.gov.pk

• Ministry of Education, Training & Standards in Higher Education

http://moptt.gov.pk

• Government of Punjab

www.punjab.gov.pk

• Government of Sindh

www.sindh.gov.pk

• Government of Khyber Pakhtoonkhwa

www.khyberpakhtunkhwa.gov.pk

• Government of Balochistan

www.balochistan.gov.pk

• Government of Gilgit Baltistan

www.gilgitbaltistan.gov.pk

• Government of Azad Jamu Kashmir

www.ajk.gov.pk

• Trade Development Authority of Pakistan (TDAP)

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www.tdap.gov.pk

• Security Commission of Pakistan (SECP)

www.secp.gov.pk

• Federation of Pakistan Chambers of Commerce and Industry (FPCCI)

www.fpcci.com.pk

• State Bank of Pakistan (SBP)

www.sbp.org.pk

• Pakistan Institute of Fashion Design (PIFD)

www.pifd.edu.pk

• Pakistan Fashion Design Council (PFDC)

www.pfdc.org

1133 KKEEYY AASSSSUUMMPPTTIIOONNSS

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http://www.pfdc.org/