ISLAMABAD – The government has drafted a new industrial policy, focusing on the revival of about 1909 sick industrial units across the country, in consultation with all relevant stakeholders.
Official sources told APP that, in the light of the information provided by industries departments of all provincial governments, 1909 industrial units had gone sick due to a variety of reasons. They attributed closure of these industrial units to financial crunch, outstanding liabilities of commercial banks, high costs of production, law and order situation, electricity and gas load-shedding and partnership disputes.
Official sources said that out of 1909 sick industrial units; 480 were in Punjab, 779 in Sindh, 568 in Khyber Pakhtunkhwa and 82 industrial units were sick in Balochistan. They further said that a total number of 1579 industrial units have been closed down during the past five years.
A break-up of closed units in all provinces and in EPZA shows that 115, 700, 688 and 29 units closed in Punjab, Sindh, Khyber Pukhtunkhwa and Balochistan respectively, while 47 industrial units were closed down in Export Processing Zone Authority (EPZA). Official sources further said that approximately seven thousand five hundred and thirty (7530) workers were rendered jobless due to closure of industrial units during the period.
They claimed that the new industrial policy, which will be announced shortly after consultation with all stakeholders, including owners of sick units, would help address issues that have led to closure of units and would help formulate measures that revive the sick units, if found viable for industrial growth in the country.
Sources added that manufacturing is the third largest sector of the economy, accounting for 18.5 percent of Gross Domestic Product (GDP) and 13 percent of the total employment, while Large Scale Manufacturing (LSM), standing at 12.2 percent of GDP, dominates the overall sector, accounting for 66 percent of the sector’s share, followed by small scale manufacturing, which accounts for 4.9 percent of the total GDP.
They expressed hope that the new industrial policy, after its approval and implementation, would help in reviving sick industrial units, promoting industrialisation, increasing productivity and exports and hence in creating greater job opportunities for people in their respective provinces.
thre is no way out for pakistan till it develops silicon based products as in chips and computers, It has abundance of silicon in balouchistan and sind, If there is a drought in the country, then the governament and the poor poor population will shove the agricultural economy up their asses.
I think that in our country we have very good policy makers but the real problem is of implementation. So, govt should take step for revival and survival of these sick industrial units in Pakistan. These are already established units and need just a little bit push from govt side. So, we expect more from govt of Pakistan.
Anayat ullah shinwari, PIDE.
we acquire and assist sick industrial units which are closed because of financial problems…..contact us [email protected]
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