Industrialists offered funds to establish units

NIP will finance projects being set up in Rachna Industrial Park.

LAHORE: National Industrial Parks Development and Management Company (NIP), in collaboration with banks and financial institutions, is offering funds to industrialists for purchasing plots and establishing businesses in Rachna Industrial Park, situated on the Lahore-Sheikhupura Road.

NIP Chief Executive Officer Mohsin Syed announced this during a meeting with representatives of small and medium enterprises at the NIP office here.

Syed stressed that the primary objective of NIP was to assist, in association with banks and financial institutions, small and medium enterprises by providing term financing for investment in manufacturing units.

With public-private partnership, NIP sets up world-class industrial parks in the country in an effort to promote industrial growth.

NIP helps provide medium and long-term funds in local and foreign currencies for establishing new projects as well as for expansion, balancing, modernisation and replacement of existing projects.

It also extends technical, financial and managerial advice to its clients in planning and execution of industrial projects. Besides, it facilitates transfer of technology from developed countries to business enterprises in Pakistan.

Giving details of arrangements with banks, Syed said industrialists requiring loans would have to submit a detailed feasibility, construction plan, number of employees, cash flow and other information related to the project.

He pointed out that the industrial units, which were facing environmental problems, had the best opportunity to relocate from urban areas to the pollution-free zone at the Rachna Industrial Park.

Published in The Express Tribune, March 7^th, 2013.

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