Punjab government has initiated an action plan for the development of small and medium industries for ensuring strong industrial base in the Punjab. Official sources told Business Recorder here on Sunday that the step has been taken further accelerating the pace of export activities in the Province.
Under the plan a new industrial estate would be developed over 1000 acres of land near Gujranwala. The proposed industrial estate would be developed on the patterns of Sunder industrial (Lahore) where all modern facilities would be ensured sources added.
In addition to this, the government will also establish small industrial estates in Pasrur and Narowal district aimed at promoting the local industries. Under the programme 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 has set aside Rs 8 billion for extending loan facility to the SMEs and newcomers for upgrading and setting up their industrial units in the Punjab.
In addition to this, special attention had been focused on the "women entrepreneurship" and many steps had already been taken for facilitating the businesswomen in the Punjab. Adequate step 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.
Under the plan step had already been taken for motivating the business community and manufacturers that should divert their attention on producing non-traditional products with innovation for fetching through the export of non-traditional products because there is a great demand of non-traditional products globally.