The Punjab government is preparing a five-year industrial policy for further accelerating the pace of industrial activities as well as to ensure strong export base in the province. Official sources told APP here on Sunday that under the plan government would also formulate a strategy for ensuring quality production with reducing the productivity cost.
In addition to this, special efforts would also be made for the promotion of Small and Medium industries and to provide solid footing to SMEs in Punjab. The government was also focusing on providing ultra modern training facilities to the SMEs enabling them to play an instrumental role in strengthening the national economy, sources added.
The present government has opted a liberal policy for extending loan facilities to the SMEs, businesswomen and other interested persons for up-gradation of industrial units and setting up of new industrial projects in the province. In order to reduce financial burden of SMEs, loans amounting to Rs 1.20 billion were being advanced to small and medium industries for up-gradation of their industrial units in Punjab, sources added.
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