PESHAWAR: The lease policy of the Small Industries Development Board (PSIB) has been relaxed, which will now provide protection to owners who cannot run their own factories and have rented out their industrial units.

According to the Small Industries Development Board (SIDB) spokesperson, the rental policy was approved at a meeting of the SIDB board which was chaired by him. Board Chairman Abdul Karim Khan Tor Dheer said that under the rental policy, so far 38 tenants have been registered in Small Industries Estate Peshawar and 75 tenants are yet to be registered.

Small Industries Estate Peshawar currently has 400 industrial units in which Owners of 68 industrial units have leased out their factories to 113 tenants in violation of the lease policy. Volunteers should be registered on a voluntary basis. The SIDB management has also warned all defaulters to pay their arrears by the 15th of this month or else legal action will be taken against them.

Copyright Business Recorder, 2021