Over 100 industries defaulting Rs2 bn of SITE

KARACHI: More then 100 multi-national and local industrial units are defaulters of above Rs2 billion of Sindh Industries and Trading Estate (SITE) Limited.
Sindh Industries and Trading Estate (SITE) Limited, a sub-organisation of Sindh Industries Department, which has already been in a huge financial crunch, now facing more critical situation due to default amount.
According to documentary evidence available with ‘The News’, some government and semi-government organisations are also on the defaulter list.It is pertinent to mention here that there are near 2,000 industrial units throughout Sindh and near 70% are in the provincial capital, Karachi.
Management of SITE Limited has made its mind to recover the defaulting amount and decided for a stern action against defaulter industrial units and allotees, including the disconnection of their water supply and other facilities provided by the SITE limited.
SITE Managing Director Nazar Muhammad Bozdar, confirming the default matter, toldThe News that the department is under financial crisis, and some time becomes unable even to pay the employees salaries.
Bozdar said in this regard decisions has been taken we are going to issue notices and giving them last chance with the deadline of ten days to the defaulters and in this regard n o pressure will be accepted.