Govt releases Rs.240.8 million for Industries and Production in first half of FY2018-19

January 9, 2019: The government has released Rs 240.890 million of various new and ongoing development projects of Ministry of Industries and Production under its Public Sector Development Programme (PSDP) for the financial year 2018-19 as against the total allocations of Rs 769.999 million.

During first half of current financial year, the federal government has released Rs 225.412 billion against the total allocation of Rs 675 billion under its Public Sector Development Programme (PSDP) 2018-19 for various ongoing and new schemes for the uplift of social sector in the country.

Under Annual development programme, an amount of Rs 80 million was released for product development center for composites based sports goods at Sialkot for enhancing the exports of sports goods as against the total allocation of Rs 200 million.

Meanwhile, Rs 80 million was released for national business development programme for small and medium enterprises as against the total allocation of Rs 200 million during the current fiscal year for the promotion and development of small and medium enterprises sector and the development of cottage industry to alleviate poverty from the rural areas of the country.

The government had allocated an amount of Rs 250 million for fruits, vegetables and condiments processing center at District Nausheroferoz, Sindh and released Rs 40 million. The projects was aiming at to promote the value addition of vegetables and fruits besides promoting the exports of these commodities.

During the period under review, the government has also released Rs 12.090 million for light engineering up gradation center for small and medium enterprises in different areas of Baluchistan including Hub and Lesbela for exploiting the SMEs potential of these areas and removing the poverty from these areas.

Under PSDP, 2018-19, an amount of 11.480 million was provided for Peshawar light engineering center for development and uplift of light engineering sector of the Province of Khyber Pakhtunkhwa as against the total allocation of Rs 28.720 million.

 (APP)

Posted on: 2019-01-09T13:34:00+05:00

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