Punjab Industries, Investment and Commerce Minister Muhammad Akmal Cheema has said that necessary arrangements are being finalised for setting up SMEs industrial estates in various cities of the province.
Talking to reporters here on Sunday, he said the step was being taken to promote local industries and mitigate the problems confronting to SMEs in Punjab.
Ajmal Cheema disclosed that Rs 2 billion had been set aside for extending loan facilities to the SMEs and to undertake development work in various existing industrial estates.
He said the government had already advanced loans amounting to Rs 3 billion to SMEs, businesswomen and other interested persons for upgradation of their workplaces and for setting up new industrial units in the province.
The industries minister said the establishment of agro-based industries and dairy development as well as women entrepreneurship would be encouraged.
Due to the conducive and investment-friendly policy of the government, a large number of foreign investors had shown their keenness for investing different trade fields in Punjab, he said.
Ajmal Cheema said that available resources and other modes were being exploited to bring industrial revolution through the establishment of industries for keeping the economic wheel in full motion.
Besides, this programme would be supportive for enlarging the employment opportunities in the province he said.
He said special attention was being accorded on setting up small-scale industries in far-off areas for providing employment to the people at their doorstep as well as to stop rapid rural migration towards cities.
He emphasised the business community to concentrate on producing non-traditional products with innovation for fetching maximum foreign exchange because there was a great demand of non-traditional products globally.
The government would provide all facilities, including financial assistance to the willing persons for manufacturing non-traditional products, he added.
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