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Cottage industry being encouraged to boost economy

Cottage industry being encouraged to boost economy

LAHORE: Provincial Minister for Industries, Commerce and Investment Sheikh Alauddin on Thursday said that the government is taking solid steps to strengthen cottage industry in order to provide job opportunities to the people within their cities.

“National economic growth cannot be possible unless the local industry is boosted”, he added.

The government wants to resolve the issues related to industrial sector and the allocation of Rs7.5 billion for Industrial development would help promote industrial development, trade and investment in the province.

“The Vision of Chief Minister is to promote trade and investment, work for private sector development, create a facilitative business environment, reduce the cost of doing business and improving living standards for all by fostering economic growth, technological competitiveness and sustainable development”.

The Minister said that Punjab Small Industries Corporation (PISC) and Punjab Skills Development Project were provided with Rs 1.326 billion and Rs 79.8 million, and they were doing commendable jobs in their respective areas for strengthening industrial base in the province.

Answering a question, he said that Punjab government was creating a business-friendly investment climate for the entrepreneurs/investors. He said special incentives were being offered to those organising trade fairs and exhibitions.