Speaking in the provincial assembly on Monday, Shah said that for the identification of problems and revival of sick industrial units, a committee was established under the chairmanship of secretary industries. Out of 2,200 industrial units, 282 have been declared sick and a new industrial policy will be announced by the end of the current financial year in June.
For the support of the committee, a special desk has also been established at the Small and Medium Enterprises Development Authority (Smeda).
Shah explained that insurgency and terrorism have played havoc with industrial development of the province, adding that the provincial government is fully concentrating on industries and collaboration with the federal government and has announced the Prime Minister’s Relief Package for the economic revival of the province.
The chief minister had also constituted a committee, which has held several meetings. Mark-up on industrial loans has been cut down to seven per cent while a $14 million multi-donors trust fund would also be set up in the province for upgrading, rehabilitation and capacity-building of the industrial units.
Shah said that the provincial government has also made big achievements in matters relating to electricity outages in industrial estates. The duration of outages has been cut down from eight hours to four hours while the Peshawar High Court has also decided the case regarding gas outages in favour of the industries.
Published in The Express Tribune, February 15th, 2011.
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