LAHORE: Federal Industries and Production Minister Ghulam Murtaza Jatoi said on Monday that Industrial Policy and Auto Policy would be announced within next two months after taking all the stakeholders into confidence.
Talking to media during his visit to Foundry Service Centre, (a joint project of SMEDA, UET and PFA- Pakistan Foundry Association) here at University of Engineering and Technology, he said that Small and Medium Enterprises Development Authority had been asked to forward its suggestions for formulation of the Industrial Policy, while all other quarters concerned would be very much taken on board in this regard. "We want a comprehensive policy for the country's industry," he added.
To a question, the federal minister said that retiring of over Rs 500 billion circular debt in power sector by the PML-N government had increased industrial growth up to 12 percent during last three months.
Murtaza Jatoi added that government had announced a comprehensive Power Policy under which numerous hydel, coal, wind and solar projects were being executed under public-private partnership. He hoped that prevailing energy crisis would be overcome within next four to four and a half years.
To another question, the Federal Minister held the previous government responsible for worst state of affairs of Pakistan Steel Mills, citing that bad governance and corruption during the past regime had not only eaten up Rs 22 billion reserves of the state-owned entity but also put it in Rs 20 to 22 billion fiscal deficit, and today, the PSM was still running in loss.
In order to revive and rectify the PMS affairs, he added, a hefty grant of Rs 80 to 82 billion was needed, besides doubling its production capacity that again would take another one billion dollars.
Earlier, the Minister visited the SMEDA office and was briefed by its CEO Sardar Ahmad Nawaz Sukhera about the Authority's services, achievements and future plans. While, General Manager (Business and Sector Development Services) Sultan Tiwana, GM (Outreach) Alamgir Chaudhry, GM (Monitoring and Evaluation) Dr. Nasir Khan Ghauri, SMEDA Provincial Chief SMEDA Raja Hassanien Javed, DGM (Policy and Planning) Ms. Nadia Jahangir, and Director (Ministry of Industries and Production) Muhammad Idrees Mian also attended the meeting.
On the occasion, the Minister said the consultative process on Industrial Policy was in progress and the policy would be announced after ensuring comprehensive consultation with all stakeholders of the industry. He also assured to incorporate a number of initiatives of the 5-year SME Development Plan evolved by the SMEDA in the Industrial Policy.
He appreciated the SMEDA's role in the Prime Minister's Youth Business Loan Programme (PMYBL) and was impressed to know that SMEDA's website had recorded more than 7 million uploads in this regard. He was confident that the scheme would help curb unemployment in the country by generating jobs for about 5-6 lacs families thus reflecting multiplied impact to over 2 to 3 million individuals. He also visited the Help Desk at SMEDA head office for assistance and consultation of the prospective applicants of the PMYBL Scheme and expressed satisfaction in this regard.
The minister also witnessed capacity-building training programme to be run by UNIDO in collaboration with SMEDA.
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