President Pervez Musharraf on Monday underlined the need for special focus on small and medium enterprises (SMEs) besides value-addition and diversification of industries for capturing a big share of international market and for creating maximum jobs for the people.
He was addressing the employees of Pakistan Steel Mills during a ceremony arranged in Pakistan Steel here to unveil the plaques of the already operative Pakistan Steel flyover on National Highway at Quaidabad and the planned Bin Qasim Industrial Park in the vicinity of Pakistan Steel.
The ceremony was also attended by Federal Minister for Industries, Production and Special Initiatives, Salman Taseer, Federal Minister for Information, Senator Nisar A Memon and Federal Minister for Defence, Saleem Abbas Jillani, who is also former chairman of Pakistan Steel and City Nazim, Syed Mustafa Kamal besides a number of leading businessmen.
The President said industrialisation is the root of an economy and that SMEs are the most potential sector for industrial growth of the country. It also helps create large number of jobs for the people and spread of wealth down to the middle class people.
Traditionally, President Musharraf said, we are dependent on two major sectors for economic growth, which are textile and agriculture. This trend should be changed as diversification of products and value- addition was very essential to cope with the changing global market and make best use of our resources.
He said during the last five years Pakistan achieved industrial growth at double-digit rate. Poverty was reduced to 24 percent from 34 percent whereas the inflation was cut 6 percent from 8 percent over this period. Demand and supply had increased which showed economic growth and that investment rate remained high.
President Pervez Musharraf said in the last 6 years the government had offered many incentives to local and foreign investors and provided them with standard infrastructure and investment- friendly environment. A 100 percent equity has been allowed to the investors and foreign investors are free for their remittances.
The government adopted zero customs policy for imports of machinery and certain raw materials to encourage industrialisation in the country, the President said.
He said the procedure for acquisition of land for an industry has been simplified against the past practice in which an industrialist had to run from pillar to post for the land. Similarly, the easy availability of utilities like water, gas and power and other line facilities has been ensured to encourage investment from within and outside the country.
The President said the Government believes in public-private partnership concept and for this purpose Industrial Promotion Boards with Government and private members have been set up for various industrial estates which are assigned to guide and monitor industrial activity there.
He cited the example of Sunder Industrial Estate, which was successfully operating under public-private partnership through such a board. Similarly, Faisalabad Industrial Estate was performing very good in value-addition. He hoped that the planned industrial park in Karachi would be another achievement under public-private partnership.
TWO BONUSES FOR PAK STEEL EMPLOYEES: President Musharraf appreciated Pakistan Steel management for providing 930 acres of land and extending all possible support to National Industrial Parks Development and Management Company for making this project successful. This NIP company is a subsidiary of Ministry of Industries and Production.
President Pervez Musharraf expressed satisfaction over the performance of Pakistan Steel Mills workers and the management who through team work have turned this organisation into a profit- earning and progressive public sector establishment, which was previously in shambles due to the wrong policies and mismanagement.
President Pervez Musharraf announced two bonuses for the employees of Pakistan Steel Mills as recognition to their services for turning this important national organisation into a profitable and progressive one.
The President said the construction of Pakistan Steel flyover on National Highway in Quaidabad has helped accelerate industrial and trade activity in Pakistan Steel and Port Qasim areas. This has eased vehicle movement between the main city and Pakistan Steel and the Port Qasim, besides saving travel time for the common man as well, he said.
Pakistan Steel Mills Chairman Major General Muhammad Javed (Retd) in his address of welcome said that the 4-lane flyover was completed in two years time on August 14, 2007, at a cost of Rs 230 million. The 753 metre long flyover was designed by Nespak.
It has saved around an hour's time for the people travelling to the city, he said. About Bin Qasim Industrial Park, the PSM Chief said, would be developed over 930 acres of land owned by Pakistan Steel. It would cater to the needs of large and medium scale enterprises.
The objectives would be clusters/zoning, integrated road network, provision of utilities, estate management, one-stop service. The clusters would include auto vendors, foundries and steel fabricating industries, light engineering industry, wood working, plastic industry, electrical/consumers electronic industry, food and beverage industry and pharmaceutical.
It would have facilities of warehousing, vibrant commercial centre, engineering workshop and vocational training centre, he said. The PSM Chief gave a brief account of Pakistan Steel and its present status after its turn-around to earn profit of billions of rupees. He said the long-awaited capital repair and maintenance of the plants had also been started, utilising the Mills' own earning. Besides that the PSM has retired almost its entire debt over the last couple of years.
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