ISLAMABAD: The Ministry of Commerce (MoC) has devised a policy of initiatives for the revival of sick industrial units in the country. According a study carried out by the MoC, there are 3646 industrial units in the country, out of which 1333 are listed as sick units.
Pakistan ranked as number 55 in the world in factory output as Pakistan’s industrial sector accounts for about 24% of GDP and major industries include cement, fertilizer, edible oil, sugar, steel, tobacco, chemicals, machinery and food processing
The study had proposed a package of initiatives to revive sick units which include appointing professional managers in all public sector corporations through a competitive and transparent process of recruitment as well as all such corporations that could be profitably privatized would be put to a credible process of privatization.
“Industrial Research Program (IRP) through Engineering Development Board, Ministry of Industries and Production to promote Research & Development activities in the industry has been initiated in lieu with the said policy” the source added saying that the Program aimed to address Industry’s Technical issues pertaining to Product design/development, Production Process and its materials to foster much needed innovation in the industry to enhance its competitiveness.
The Engineering Development Board (EDB) has taken on board a team of 992 Professors, scientists, technologists, and researchers (Ph.D and M.Phil) in 308 fields to conduct research and development (R&D) activities and these fields cover almost all products related to, engineering, applied physics and applied chemistry.
These services were provided on competitive basis, funded purely by the recipient industry, as such, no allocation/releases for the R&D activity under IRP program had been made so far.
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