Punjab government plans to establish SME industrial estates

Sialkot: Punjab government has evolved a strategy for the establishment of SME industrial estates in major industrial towns of the province. Reliable sources informed Business Recorder here on Friday that under the plan SME industrial estates would be set up in major industrial towns including Sialkot and work on the plan would be initiated in near future.

Sources said that the step was being taken to redress the problems confronting the SME sector, which is the backbone of the national economy. All basic facilities would be ensured to the SMEs in these proposed SME estates, sources added.

Special attention is being paid to the development of industrial sector on modern and scientific lines aimed at enhancing export volume and to bring industrial revolution through setting up large-scale industries including agro-based industries in the Province, sources informed.

Sources said that under the programme government has introduced certain schemes for the development of small and medium industries besides loan facility was also being extended to the small and medium businessmen enabling them to upgrade their industrial units and for setting up new industrial projects in the province.

More than one billion rupees had been set aside for diminishing 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, they said.

Apart from this, government was also providing loan facilities for the advancement and expansion of agro-based industries and dairy development, engineering and information technology in Punjab, sources added.

Sources said that the prime aim of setting up of large-scale industries was to ensure strong industrial base and to keep the economic wheel in to gear in the province. The establishment of these industries would not only help in doubling the export volume but also create large number of job opportunities, sources added.