ISLAMABAD
\nStanding Committee on Industry and Production has been told that increase in interest rate is obstacle in development of small business.
\nThe interest rate reached 22 percent.
\nFirst live stock farm is going to be built in Sheikhupura under name Royal Group in the name of Royal group.
\nThis live stock farm will be made on collaboration with Chinese company and Royal Group.
\nCommittee directed Secretary Finance to issue SME funds immediately.
\nThe meeting of Committee was held under Chairman Committee Rana Mohammad Ishaq Khan in Parliament House.
\nMembers of Committee said that institution has completed 25 years.
\nWhat goals have been achieved so far?
\nIndustries of the country are in decline.
\nIf we import tissue papers then what are we making?
\nSecretary for Industry and Production told that you have highlighted an important issue and it has several reasons.
\nWe have not made policies to develop industries.
\nCEO EDB told that funds of SME are stuck in Ministry of Finance.
\nSahiwal has great potential for rice, livestock.
\nHe suggested that special banks should be formed for promotion of small and medium industries.
\nThe interest rate should be reduced to benefit small businesses.
\nMembers of Committee said that previous government gave a loan of 3 billion dollars at zero interest rate.
\nCEO said that we are limited to small industries and we are not aware of this loan.
\nBefore initiating of standing committee meeting for industry and production in National Assembly (NA) authorities of Engineering Development Board in proceedings of informal meeting told that 3 lakh 17 thousand vehicles were made in 2021-22.
\n1 lakh and 37 thousand vehicles were made in last year (10 months).
\nThere was a big drop in the production of vehicles.
\nImport restrictions had also an impact.
\nSecretary for industry and production said that government has also increased taxes on vehicles.
\nThe sales of vehicles and production have been decreased due to taxes on vehicles.
\nAuthorities of EDB said that government gets RS 40 lakh tax on vehicle valuing RS 80 lakh.
\nCar manufacturing companies are making vehicles according to demand.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD Standing Committee on Industry and Production has been told that increase in interest rate is obstacle in development of small business. The interest rate reached 22 percent. First live stock farm is going to be built in Sheikhupura under name Royal Group in the name of Royal group. This live stock farm will be […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-342438","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n