The Punjab government has advanced loans amounting to Rs 1010.784 million for setting up 1,231 industrial projects in different industrial towns of the Punjab.
Official sources told Business Recorder here on Saturday that the accomplishment of these new industrial projects would generate employment opportunities for 24,000 people in the Punjab. The present government had concentrated and working on to bring about the industrial revolution for ensuring strong industrial base.
The government had already introduced highly conducive polices for attracting foreign investment as a result of which German based Metro group would establish its ten stores with the initial investment of US 200 million dollars in Punjab. The volume of investment would be increased to 500 million dollars while number of stores would enhance to 25 stores.
Sources revealed that Metro group had started export from Pakistan and so far articles amounting to US 40 million had been exported and it is expected that export volume would be US 2 billion dollars in future.
In addition to this the government was actively considering establishing "Enterprises Development Organisation" shortly in the Province. The prime concept of the proposed enterprise development organisation was to organise the cottage industry and to provide solid footing to the artisans in the Province. Under the programme special step would also be taken for providing facilities to the artisans for promoting local products and to provide technical assistance and marketing facilities to the cottage industry and artisans in the Punjab.
The programme would surly encourage cottage industry especially artisans to produce local products using their home-grown skill. The programme would also ensure the considerable increase in the income of business community engaged with the cottage industries well as artisans.
Sources further revealed that under a phased programme 50 Cluster Development Centres of Technology Upgradation Centres would be set up in different major industrial cities of Punjab. Under the programme Product development Centre for composite based material for Sports goods industry (Sialkot), Business Support Centre for Electrical fittings Industry (Sargodha), Wood Furniture Facility Services Centre and showroom (Chiniot) and Support Centre for Development of Auto parts (Lahore) would be accomplished during 2006-2007.
Similarly, the establishment of Cluster Development Centre for Metallurgy casting die and agriculture (Daska), Cluster Development Centre for Technology of Domestic Electrical appliances (Gujranwala), Cluster Development Centre for Development and Promotion of Light Engineering Industries (Multan) and Cluster Development Centre for Light Engineering Industries special focus on Textile machinery and spare parts in Faisalabad had been included in current annual development programme and work these clusters would be carried out soon sources said.
The step was being taken to provide maximum assistance and extending support in technology upgradation to the business communities engaged with this business, sources added.
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