New industrial policy to provide employment to 1.2 mln citizens: Punjab CM

LAHORE: Punjab Chief Minister Sardar Usman Buzdar on Tuesday said that the new industrial policy will bring prosperity and development to the nationals, ARY News reported.

CM Usman Buzdar, in his statement, said that the implementation of the new industrial policy will create employment for 1.2 million citizens.

“Efficiency of approximately 500,000 workers will be enhanced under the new policy besides efforts to meet target growth of industrial sector up to 10 per cent annually,” said the chief minister.

“Small industries will be promoted through the government’s special measures by introducing loan support scheme,” he added.

Earlier on March 21, Prime Minister’s Adviser for Trade Abdul Razzaq Dawood had visited the National Textile University Faisalabad and inaugurated a DICE- textile innovation event where said that only option to promote industry in academia linkages and need to move steadily towards modernization of textile sector to maintain our presence in the international textile markets.

He further unveiled plans that the federal government is working on a comprehensive strategy based on value addition in invigorate the entire cotton chain in order to double the textile exports.

He said the strategy formation was afoot to reduce industrial production cost.

“The government has no funds, hence the policy for granting subsidies has been done away with.”