Rast Programme: Small factory owners concerned at waiver of guarantee

PESHAWAR: Small factory owners expressed grave concern over waiving of the Finance Department’s guarantee for Rast Programme and demanded a review of the decision in the best interest of industries and businesses.

The issue was discussed during an emergency meeting of the Small Industrialists Association Kohat Road Peshawar which was chaired by the association president Waheed Arif Awan. The association office bearers, members and people and people attached with small industries were present in a large number on the occasion.

In the meeting, serious concern was expressed over the decision of the finance department to waive the provision of funds for financial assistance and guarantee to small industries.

According to the statement, the Small Industrialist Association and all the people associated with small industries expressed serious concern over the decision of the finance department to waive the guarantee for the Rast Programme and demanded a review of this decision.

Besides, the manufacturers presented their position that they were persuaded to take advantage of this scheme by the government itself after the launch of the Rast Programme.

Now that the manufacturers have applied for the Ross, on whom various types of paperwork have been spent, moreover, various plans have also been drawn up and work on them has actually started.

Moreover, various plans have also been made on which the work has actually started, now after doing so much, coming to the last stage and ending this scheme, the owners of the institutions will have to face mental anguish as well as financial loss.

It has been demanded by the industrial organisations that after Covid-19 pandemic, the launch of a good scheme by the government was considered to support the restoration and development of the industries and it was a good step to put the industries back on their feet.

Therefore, the implementation of this scheme should be ensured because if this is not done, the situation will go from bad to worse.

Copyright Business Recorder, 2022