PIAF lauds govt plan to revive 687 sick industrial units

LAHORE: The Pakistan Industrial and Traders Association Front (PIAF) has appreciated the plan to revive 687 sick industrial units in 60 days, saying it is crucial to strengthen the industrial base for the revitalising of the economy and industrial growth. PIAF chairman Mian Nauman Kabir called for collaboration with the private sector to promote small and medium enterprises, giving importance to small industrial units as they are the backbones of the economy. They increase job opportunities and have immense growth potential, he said. Nauman Kabir also emphasised on the need for increasing the capacity of already functioning units in the manufacturing sector which will generate an increment in the industrial base. As Pakistan’s exports have not seen a spike in a long time, it is a necessity that existing production capacity is effectively utilised, he added.

The Chairman PIAF also said that owing to the positive steps regarding business facilitation, these sick units can greatly add to strengthening the industrial base by extending beyond their past glory. Nauman Kabir, the former interim provincial minister, stressed that meetings with stakeholders inspire confidence and are the first step for the advancement of small and medium industries. He further said that the lack of investment, sophisticated technology, skilled labour and a lack of research hinder the growth of industries.

The government should work out a policy to aid the growth of the manufacturing sector, he said and added that expansion of the industrial base is desperately needed for export promotion, employment generation and industrial growth.

To read more news and blogs, visit blog.graana.com