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An amount of Rs 100 million has been approved for the promotion of new industries--small and medium units. This was announced by the Federal Minister for Industries, Production and Special Initiatives, Jahangir Khan Tareen while talking to reporters after chairing a meeting of the Board members of the National Industrial Parks Development and Management Company (NIP) here on Friday.
The Minister said this amount would be utilised for the promotion of small and medium enterprises (SMEs) that are unable to afford foreign trips to attend international trade fairs.
He said that services of international experts were being acquired for improvement of the quality of garments and other products so that Pakistan could compete with China, India and other countries.
He said there was no change in the policy in automobile sector and added that import of cars had been allowed under gift scheme.
At the meeting with the Board members of NIP, he discussed progress of the development of industrial parks in Karachi.
The Directors were apprised by the Minister that the government in principle had agreed to transfer about 2,400 acres land relating to downstream land of Pakistan Steel prior to its privatisation.
The Minister also chaired the 66th Board meeting of the PIDC here on Friday. The meeting discussed various issues, including setting up of a most modern tools/dies/moulds centre at Karachi and development of industrial parks by the newly registered PIDC subsidiary, National Industrial Parks Development and Management Company, to accelerate industrialisation in the country and to create employment opportunities.
The Board also approved composition of the Board of NIP and the 'Technology Upgradation and Skill Development Company (Tusdec).

Copyright Associated Press of Pakistan, 2005

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