PESHAWAR: Small Industries Development Board (SIDB) has decided to construct a three-day storey commercial building consisting of 25 shops for the industrialists and labourers at Peshawar Industrial Estate. The building will be constructed on a 14-marla land.

The matter was reviewed in a meeting of the Board of Directors (BoD) of SIDB which met here with Special Assistant to KP CM on Industries, Commerce and Technical Education, Abdul Karim Khan in the chair.

Besides, the Managing Director (MD) SIDB, Habib Arif, other senior authorities of the board also attended the meeting. During the meeting, Deputy Managing Director (DMD) Nauman Fayyaz briefed the meeting regarding all ongoing and new schemes.

The board also constituted a committee to strategy to either auction or rent the concerned building out. The board also the budget and finance committee for the SIDB and approved the revised budget expenditures for financial years 2022-23 and estimated budget expenditures for 2024-25.

The Board of Directors directed the adoption of frugality to arrest unnecessary expenditures and measures to increase the income resources of the organization. Similarly, the board also granted approval to the implementation of increase in the monthly wages of the workers and temporary employees of the organization to Rs.32000/- per month.

The meeting also approved plug and play policy for the already completed or near completion industrial estates also allowed the display of the small industrial products and handicrafts of private SMEs at SIDB’s Pakistan Art & Craft Gallery in Islamabad and decided to charge 20% fee from them while 5% would go the concerned sellers.

Copyright Business Recorder, 2024