The Punjab government has initiated an action plan for the development of small and medium enterprise (SME) industries for ensuring strong industrial base in major towns, including Sialkot. Sources told Business Recorder here on Wednesday that the step had been taken to further accelerate the pace of export activities in the province.
Under the plan new industrial estates would be established near Gujranwala, Narowal and Pasrur. The proposed industrial estates would be developed on the pattern of Sunder industrial estate (Lahore) where all modern facilities would be ensured, the sources added.
They said special attention had been accorded to bring about the industrial revolution through setting up large-scale industries, including agro-based industries in the province. The government had set aside eight billion rupees for extending loan facility to the SMEs and newcomers for upgrading and setting up their industrial units.
In addition to this, steps had already been taken for facilitating businesswomen to promote women entrepreneurship in the province, they said. The sources claimed that adequate steps had also been taken to diminish the financial problems being faced by the businessmen engaged with small and medium industries as well as for removing the hitches, which were hindering the process of setting up of new industrial projects.
Besides, they said, the government was taking necessary steps to motivate the business community and manufacturers that should divert their attention on producing non-traditional products with innovation for fetching foreign exchange through the export of non-traditional products 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, they added. They said the government was also providing loan facilities to expand the agro-based industries and dairy development, engineering and information technology in Punjab.
The government was mobilising all available resources for motivating and attracting Overseas Pakistanis and foreign investors to invest in export processing zones, especially in Sialkot and Gujranwala.