ISLAMABAD, Dec 26: President Gen Pervez Musharraf has sanctioned Rs2 billion for industrial development in the NWFP over the next three years. So said Federal Minister for Industries, Production and Special Initiatives Jahangir Khan Tareen, while addressing an interactive session with industrialists of the NWFP. The minister also witnessed the signing of a memorandum of understanding between the Sarhad Development Authority and Pakistan Stone Development Company for acquisition of land for a ‘Marble City’ in Risalpur that is to be set up by the company.
Elaborating on the various initiatives of the federal government for industrial development of the NWFP, the minister said the ‘Marble City’ would comprise an industrial estate, training centres and warehouses.
The minister said that the Sporting and Hunting Arms Development Company had been set up to establish an industrial estate in the Darra Adamkhel area to exploit the export potential of locally-manufactured arms and ammunition.
The minister informed that similar projects will be initiated for the gemstone sector and an MoU would be signed with the Geological Survey of Pakistan for providing operational funding for carrying out surveys of mineral resources. Mr Tareen said that he supported the use of electricity produced by the Malakand-III project by the local industry.
Mr Tareen invited the provincial government to provide a matching grant of Rs500 million to rehabilitate industrial estates in the province.
