Rehab, maintenance: Printing Press Peshawar to get interest-free loan

PESHAWAR: In order to make on time financial arrangements for the essential repair and rehabilitation work of historic and single public sector printing press in the province, a memorandum of understating (MoU) was signed between the Directorate General of Industries and Commerce and Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC), here at Civil Secretariat in Peshawar.

According to official handout here on stated the MoU, which was inked with the collaboration of Khyber Pakhtunkhwa Industries, Commerce and Technical Education Department, KPEZDMC will provide a sum of Rs.35 million rupees interest free loan as bridge financing to Directorate General of Industries and Commerce for the purpose of rehabilitation and maintenance of building and repair work of machinery of Government Printing Press Peshawar, while the same amount will be repayable to the company in one year time after the date of its release.

In this regard, the DG industries Barakatullah and Chief Executive Officer (CEO) of KPEZDMC Javed Iqbal Khattak formally signed the MoU while the provincial caretaker Minister for Industries, Commerce and Technical Education Muhammad Adnan Jalil was the chief guest on this occasion.

Secretary Industries Commerce and Technical Education Matiullah and other relevant officials were also present in the ceremony.

It is pertinent to mention that, the amount will be spent for the purpose, as per the fulfilment of all codal formalities and it will make possible to fully operationalise the repairable machinery installed in the press.

On this occasion, the provincial minister Adnan Jalil went on to say that the MoU is a major step for revival of the historical public sector printing press in the province.

He added that this initiative will make it possible to fully operationalise the printing machinery of the government press and will bring the same entity as a state of the art printing press for ensuring quality printing for various government departments and other institutions in the province.

Copyright Business Recorder, 2023