KP govt to spend Rs4.54 billion on promotion of industries

PESHAWAR: The Khyber Pakhtunkhwa government has planned to spend Rs4.540 billion to promote industries and trade sectors in the province, while a criteria to utilise the land acquired for the industrial purpose has also been worked out.
This was stated by secretary Industries Sajid Khan Jadoon, who also added that new industrial policy was being formulated for the purpose that would boost industrial development.He said currently there were 2,481 industrial units set up in the province of which 1,909 industrial units were running while 334 were closed and 238 industrial units had winded up.
The secretary added that total investment in the province amounted up to Rs1.368 billion, which was providing direct employment to 71,340 persons.Referring to the budgetary figures, he said the provincial government had set asideRs2.283 billion in the last finical year for the development of the industrial sector.
“The government has set criteria for the utilisation of the land acquired for industrial purposes to promote investment and generate employment,” Sajid said. Rs2.283 billion in the last finical year for the development of the industrial sector.
“The government has set criteria for the utilisation of the land acquired for industrial purposes to promote investment and generate employment,” Sajid said.He said that as per the criteria new industrial estates would be established which would promote investment and employment in the province.
To further promote industries and economic growth in Khyber Pakhtunkhwa has decided to divert power from Pehur Hydel Power Station to Gadoon Industrial Estate and to establish industrial estate near generation units to provide cheap energy to the industries.