Revival of sick units

It is heartening to note that as many as 10 banks have signed an agreement to establish Pakistan Corporate Restructuring Company Limited (PCRCL) for revival of sick industrial units.

This is indeed a bold initiative towards reviving country's sick industrial units. According to the World Bank, the current phase of stabilisation is weighing heavily on economic activity. A lower economic activity means lower economic growth, which means scant new job opportunities. Lower economic growth can cause even higher unemployment. All sick units are required to be revived for increased economic activity and the creation of new job opportunities without any further loss of time.