Published On:December 29 2008
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SSIC to spend PR. 257-mn on various development schemes
Karachi: Sindh Small Industries Corporation (SSIC) will spend Rs 257 million on various development schemes during 2008-09. Sindh Small Industrial Estate Karachi has been set up on 100 acres of land and total cost of its development has been estimated at Rs 462 million out of which Rs 299 million have been spent so far and ballotting of plots already done on May 10 this year.
According to SSIC sources, payments for supply of gas and electricity has been made to concerned organisations and some amount also paid to KWSB in advance for water supply, while remaining would be paid during the year. This year Rs 160 million are being spent on development and the project is expected to be completed during 2008.
Sindh Minister for Industries and Commerce Rauf Siddiqi has already announced that desirous persons, who wish to set up units immediately, can get possession of plot by making full payment.
According to the Minister, an industrial estate is being developed on 50 acres of land under expansion plan of Hyderabad Small Industrial Estate which is estimated to cost Rs 82.80 million and so far Rs 50 million have been spent.
He said development work is going on apace and the scheme will be completed during 2008 and applications for allotment of plots already received through banks and sent to Nadra in few days for computerised ballotting. He said a 15 percent quota of plots has been kept for local people of Hyderabad.
Rauf Siddiqi said an another industrial estate on 50 acres land also being set up under expansion plan of Sukkur Small Industrial Estate at a cost of Rs 23.60 million and so far Rs 21.60 million have been spent. He said development work has completed and applications for allotment of plots will soon be invited.
According to him new industrial estates are also being established in Ghotki, Mithi and Naushehro Feroz on which cost of Rs 14.80 million, 23.50 million and Rs 23.50 million will be incurred respectively.
Minister said that a new scheme has been approved to promote power loom industry in Hyderabad on 500 acres of land and will cost Rs 200 million. He said efforts are underway for acquiring land and once it is acquired, development work will be taken up immediately.
Rauf Siddiqi has announced that investors desiring to set up factories in Thatta, Badin and Sanghar would be handed immediate possession of plot on payment of 20 percent of price and remaining amount would be recovered on easy instalments in 10 years. He said these plots would be non-transferrable.
He made it clear that people benefitting from this scheme will have to start work on the plot within one month of handing over of possession and show industrial production within 2 years.
He said in case of non-fulfilment of these conditions, the plot allotment will be cancelled. He has asked people whom plot was allotted more than 5 years back and have not yet set up factory or unit, should start work within one month or else otherwise, their allotment will be cancelled.