Under the Public Sector Development Project (PSDP) 2023–2024, the Federal Government has requested a Rs. 3 billion funds for the Industries and Production Division.
Funds Allocation For Industries and Production Sector Growth
The government has recommended Rs. 2.9 billion for 14 continuing programs, while a funds of Rs. 100 million has been proposed for a new scheme, according to the document.
The PSDP document states that while the federal government has suggested Rs. 15 million for the Business Skill Development Centre for Women in Dera Ismail Khan, it has proposed Rs. 166.140 million for phase 1 of the project to build 1,000 industrial stitching units throughout Pakistan.
For the feasibility and development of the Karachi Industrial Park on 1,500 Acres of Pakistan Steel Mills Land in Karachi, a sum of Rs. 50 Million has been suggested in the PSDP 2023–24.
For the construction of a 132 KV Grid Station at Bin Qasim Industrial Park (BQIP), Karachi, funds of Rs. 1 billion has been suggested.
For the establishment of a factory for high-tensile sheet metal dies and a titanium coating facility at KTDMC Karachi, as well as for the creation of a hub special economic zone in Lasbela, Balochistan, the government has suggested spending Rs. 300 million and Rs. 150 million, respectively.
For industrial designing and automation centers in Karachi, Lahore, and Sialkot, funds of Rs. 200 million has been requested.
The National Business Development Program for Small and Medium Enterprises has also been proposed for funding with funds of Rs. 300 million by the government.
For the National Strategic Program for Acquisition of Industrial Technology, which includes a feasibility study, the federal government has suggested Rs. 300 million, whereas it has proposed Rs. 45.85 million for the Product Development Centre for Composite-Based Sports Goods in Sailkot.
Research, Regulatory, Insight, and Advocacy for SMEs has been allocated Rs. 80 million, a SME Business Facilitation Centre has been allocated Rs. 23,01 million, the Support Centre for Surgical and Dental Implants has been allocated Rs. 200 million, and the Engineering Industry has been allocated Rs. 70 million.
For a brand-new program called “Acquisition of Land for the Establishment of SME Facilitation Centers at Lahore, Karachi, Peshawar, and Quetta,” the government has suggested allocating Rs. 100 million.
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