Punjab Chief Minister, Shahbaz Sharif said here on Thursday that cottage industry has the key importance in the development of a country and in view of this fact, Punjab government has decided to activate and revitalise Punjab Small Industries Corporation (PSIC) for imparting skills to the youth in accordance with the market needs and generation of job opportunities.
He said that a board comprising experts in various sectors has also been constituted for the institution, which will submit its recommendations within three weeks for the rapid promotion of cottage industry, creation of job opportunities and training in various skills. He was presiding over a meeting for improving the efficiency of Punjab Small Industries Corporation.
Chairman CM Special Initiatives Entity, Haroon Khawaja, Secretary Law, Secretary Industries, Managing Director Punjab Small Industries Corporation as well as persons from private sector were present. The Chief Minister said that Punjab Small Industries Corporation has failed to achieve the objectives for which it was established. He said that there is a need to modernise and revitalise the institution.
Citing the example of Japan, Korea and other countries, he said that these countries have made rapid progress by promoting cottage industry. He said that the majority of our country's population comprises youth and imparting of various skills to them is not only a challenge but also an opportunity for the speedy progress of the country.
He said that he has issued instructions for formulating a roadmap for the development of cottage industry. He said that experts in various sectors having talent and spirit of service should be inducted in the board. Earlier, MD Punjab Small Industries Corporation, Dr Allah Bakhsh Malik gave a briefing regarding performance of the institution, recovery of loans and other issues.