Caretaker Provincial Minister for Industries and Commerce SM Tanveer chaired a meeting to review industrial projects implemented by Punjab Industrial Development Board (PIDB) and the situation after the dissolution of the board in 1997, here at TEVTA Secretariat on Tuesday.
The Minister was briefed that PIDB had set up 14 industrial projects including 5 sugar mills, 3 textile mills and 6 rice mills. All industrial projects undertaken by the board had been privatized, 18 cases were pending in various courts regarding recovery of dues.
The cell is functioning under an administrator after the dissolution of the board to settle litigation and recovery of dues, the meeting told. Provincial Minister SM Tanveer said that expenditure of millions of rupees from the government treasury every year since 1997 to recover the dues of Rs 100 million was deplorable.
In a difficult economic situation, the country could not afford to waste resources. Matters should be settled amicably with the stakeholders, he added.
SM Tanveer said that Punjab Industries and Commerce Department had resolved years-old cases of industrialists and businessmen. Dues collection and other issues related to privatization of industrial projects set up by the board would be resolved on priority, he added. Secretary Industries and Commerce Ehsan Bhutta, Additional Secretary Industries, Mukhtar Ahmed from the dissolved board and other officers concerned attended the meeting.
