Applied Industrial Technologies ( NYSE:AIT ) traded up .98% during midday trading on Tuesday, hitting $43.10. The stock had a trading volume of 384,437 shares. Education and investigation!-Education is operative for success industrial development. The Strategy proposes the strengthening of vocation schools, and romotion of technical education within industrial units, private I as properly as public. Finally, socio-political unrest that gripped the country in the penultimate year of the strategy caused widespread dislocation of financial activity, adversely affecting industrial development exports. Knowledge shows that the big scale industrial sector which saved and re-invested almost 75 per cent of its profits was making a handsome contribution to the domestic savings effort.
The very first important element in the method of industrialization for the Third Program is a shift in emphasis from consumer goods to capital goods sector to sustain the contribution of the industrial sector to the savings work and to extend the import substitution programme over a much wider front. The method of industrialization for the IMd Program flows inevitably from the lessons learnt from business improvement in the last a single and a half decade and the industrial targets set for the subsequent 20 years below the Point of view Plan. PIDC played a essential and pioneering function in establishment of industrial base in Pakistan.
These standard parameters have been kept in view in formulating the industrial technique for the Third Program. The fifty Program supplied for an industrial investment of Rs. 40 billion at 1977-78 prices, of which Rs. 19 billion was earmarked for the private sector. This of course reflected the government’s want to assign a major part to the private sector in industrial development. However, the economy has stopped sliding, some new jobs have been produced, even though not sufficient.
In the course of the period 1977-78 to 1982-83, the industrial sector knowledgeable an general annual growth of 9 per cent and the large scale manufacturing worth added grew at an typical of 10 per cent against the planned target of 12 per cent. The textile industry as a whole employs about 38% of the industrial perform force, accounts for eight.5% of GDP, 31% of total investment, and 27% of industrial value-added.
For attaining its objectives, the Bank gives medium and extended term finance in neighborhood and foreign currencies for the creation of fixed assets to new industrial projects as properly as for expansion, balancing, modernization or replacement of existing projects. It extends technical, monetary and managerial guidance to its customers in arranging and execution of the industrial projects. It also facilitates transfer of technologies from created countries to industrial enterprises in Pakistan. PICIC’s lending policy is becoming further improved to help industrial production method in conformity with the ISO standards.