KARACHI, July 21: Sindh Small Industries Corporation (SSIC) has presented a surplus budget of Rs63.1 million for 2004-05. The expected surplus income during the fiscal year is Rs7.702 million.

An amount of Rs48.4 million has been allocated for total non-recurring expenses, while Rs7 million would be paid to the banks on account of mark-up. Total expenditure of Rs55.4 million has been estimated for the current fiscal year, says a press release of the SSIC.

The surplus budget was presented during the meeting of Board of Directors of SSIC which held under the chairmanship of Provincial Minister for Labour, Transport, Industries and Commerce Mohammad Adil Siddiqui.

The minister said that the federal government has already been requested to provide Rs50 million to the SSIC for developing local industries in Sindh. SSIC Managing Director Mahmood Ahmed informed the meeting that the corporation had acquired 100 acres to set up Small Industrial Estate at Northern Bye-pass, Super Highway Karachi.

He said the Sindh government had approved the extension of Small Industrial Estate at Hyderabad and Sukkur besides it had also approved setting up of 50 acres each for small industrial estate at Ghotki, Mithi and Nausheroferoz.

He added that Rs970m would be spent on establishment of Artisan City at Hawksbay. The Sindh government had also released Rs30m for disbursement to women division employees of the corporation, which were held up for the last seven years.