Total investment in industrial sector of Khyber Pakhtunkhwa is Rs 136.880 billion, which is providing direct employment to 71340 persons in the province. According to White Paper of the budget for financial year 2015-16, the province has 2.481 industrial units, out of which 1,909 industrial units are running while 334 are closed and 238 industrial units have winded up.
The document said that the provincial government is striving to promote industries and trade sectors of the province while the protection of the rights of the consumers is also one of its top priorities. For this purpose, industrial policy is being formulated, which will boost industrial development in the province.
As compared to the revise estimated budget of the outgoing financial year, the provincial government has allocated a fund of Rs 4959.350 million for industries department. Out of this amount a sum of Rs 302.579 will be spent on the salaries of the employees while Rs 116.086 million on non-salary expenses. The development expenditure is Rs 4540.685 million as compare to revised estimates of Rs 2283.789 million to fiscal year 2014-15.
To further promote investment and employment in the province, the provincial government has approved criteria for the utilization of the land acquired by the government for industrial purpose. According to criteria new industrial estates will be established which will promote investment and employment in the province.
The provincial government has also approved amendments in the Consumers Protection Act, 1997 to penalise offenders with fine up to Rs 50000/- and imprisonment up to 3 years. The provincial government has also established seven Consumer Courts on divisional level for effective implementation of the Act. The step will enable the government to curb marketing of sub-standard/spurious consumer goods and services.
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