In the latest Public Sector Development Project (PSDP) for the fiscal year 2023-24, the Federal Government of Pakistan has allocated a budget of Rs. 3 billion for the Industries and Production Division. The proposed budget aims to support ongoing projects as well as introduce new schemes to promote industrial growth and development across the country.
Allocation for Ongoing Schemes:
Out of the total budget, Rs. 2.9 billion has been allocated for 14 ongoing schemes. These schemes cover a range of initiatives aimed at enhancing various aspects of the industrial sector. The allocation for each scheme will contribute towards their successful completion and further advancement.
Industrial Stitching Units Project:
Under the PSDP 2023-24, the government has proposed Rs. 166.140 million for the first phase of the 1,000 industrial stitching units project, which will be established nationwide. This project aims to boost the textile industry by providing modern stitching facilities to manufacturers.
Business Skill Development Centre for Women:
To empower women in the industrial sector, the government has proposed a budget of Rs. 15 million for the establishment of a Business Skill Development Centre in Dera Ismail Khan. This center will offer training and support to women entrepreneurs, enabling them to acquire essential business skills and drive economic growth.
Development of Karachi Industrial Park:
Recognizing the importance of industrial development in Karachi, the government has proposed Rs. 50 million for the feasibility and development of the Karachi Industrial Park. Spanning across 1,500 acres of Pakistan Steel Mills Land, this park will provide a dedicated space for industrial activities, attracting investments and creating employment opportunities.
132 KV Grid Station at Bin Qasim Industrial Park:
In order to strengthen the infrastructure of Bin Qasim Industrial Park (BQIP) in Karachi, the government has proposed an allocation of Rs. 1 billion for the establishment of a 132 KV Grid Station. This initiative aims to ensure a reliable and uninterrupted power supply, facilitating industrial operations and promoting economic growth.
Other Development Initiatives:
The proposed budget also includes allocations for various other projects and programs. Rs. 150 million has been proposed for the establishment of High Tensile Sheet Metal Dies Manufacturing and Titanium Coating Setup at KTDMC Karachi. Additionally, Rs. 300 million will be dedicated to establishing the Hub Special Economic Zone in Lasbela, Balochistan.
To promote industrial designing and automation, the government has allocated Rs. 200 million for setting up Industrial Designing and Automation Centers in Karachi, Lahore, and Sialkot. Furthermore, Rs. 300 million has been allocated for the National Business Development Program, which aims to support small and medium enterprises (SMEs) in their growth and expansion efforts.
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SME Facilitation Centers:
As part of the PSDP 2023-24, the government has proposed a new scheme for the acquisition of land. Rs. 100 million has been allocated for the establishment of SME Facilitation Centers in Lahore, Karachi, Peshawar, and Quetta. These centers will provide comprehensive support and facilitation services to SMEs, enabling them to thrive and contribute to the national economy.
The proposed budget of Rs. 3 billion for the Industries and Production Division in the PSDP 2023-24 reflects the government’s commitment to promoting industrial growth and development in Pakistan. The allocation for ongoing schemes and the introduction of new initiatives across various cities and sectors of the country will help drive economic progress, create employment opportunities, and enhance the competitiveness of the industrial sector.
