Infra development funds to be lapsed

Karachi: Sindh Minister for Industries and Commerce, M.A. Rauf Siddiqui has feared that Rs 750 million allocated for infrastructure development of three industrial estates of the city may lapse in one month.

Speaking at a meeting of Federal 'B' Area Association of Trade and Industry (FBAATI), he said that the government has allocated Rs 250 million each for four industrial estate management companies namely Korangi Industrial Trading Estate (Kite), Landhi Industrial Trading Estate (Lite), North Karachi Industrial Trading Estate (Nite) and Federal 'B' Area Industrial Trading Estate (Fite).

Out of them, only one ie, Kite has initiated industrial infrastructure development work in its respective area while the other three made no efforts. The minister said that Nite, Lite and Fite have only one month to initiate development work in their respective areas otherwise the funds will stand lapse.

He advised the management of these companies to take guidance from Kite and prepare infrastructure development PC-1 as well as get it approved from him as soon as possible. Dispelling impression that the funds allocated for industrial infrastructure development has been freeze, he said that the amount is with the management companies and they can utilise it within next one month.

He said that the management companies have very short time and they must act fast to develop infrastructure in their respective areas. He assured the industrialists that the government is ready to provide maximum facilities for development work in industrial areas.

Chairman, FBAATI, Idrees Gigi expressed concern over long hour and frequent load shedding in industrial area. He said that industrialists are facing problems in meeting production target and on time delivery of goods due to load shedding.