Applied Industrial Technologies on August 3 announced it has acquired the assets of UZ Engineered Merchandise of Cleveland. The scope of PICIC financing which was previously confined mainly to delivering long term foreign and local currency help for setting up industrial ventures has been additional expanded to encompass provisions of other credit facilities and services. PICIC’s lending policy is being further improved to help industrial production method in conformity with the ISO requirements. Four banks namely HBL, UBL, MCB and ABL have been privatized and 23.2% shares of NBP have been off-loaded by way of stock market place.
Established in 1968 and positioned in the capital city, Islamabad, the UNIDO Nation Director (UCD) Pakistan office has extensive and effective encounter in industrial improvement cooperation. This expertise has been gained by way of a continuous interaction with the public and private sectors, and by implementing more than 50 projects covering several industrial sectors. A cursory look at the structure of Pakistan Textile Business shows that most of them are cottage industry, tiny/medium industrial units and handful of big integrated states of art units.
To ensure the most efficient fulfillment of its mandate to help sustainable industrial development in Pakistan, UNIDO will have to focus its activities to the most pressing wants of Pakistan’s industrialization process. In addition such institutions as Pak-Swiss Education Centre and Pak-German Training Centre, as nicely as the Tiny Scale Industrial Estates should be encouraged to supply the market essential technical help and production aids such as tools, jigs, fixtures, gauges, and so on.
In 1992, the government began auctioning off majority manage in practically all public sector industrial enterprises, which includes these manufacturing chemical compounds, fertilizers, engineering products, petroleum goods, cement, automobiles, and other industrial goods requiring a high level of capital investment, to private investors. Industrial estates will be developed that will have all the requisite infrastructure and contemporary facilities.
I am completely confident that the private sector will provide in a big way by delivering millions of sustainable jobs to the individuals and outstanding merchandise and services to the markets they serve. This sector has the possible of producing millions of jobs – our objective is to get rid of the regulatory and other hurdles in its development. Our external relations need to so create that the international atmosphere becomes conducive to our improvement efforts.