Industry lured to farmland

PUBLISHED : Saturday, 14 August, 1993, 12:00am
UPDATED : Saturday, 14 August, 1993, 12:00am

THE Pakistan government has provided incentives to industrialists to attract them to invest in rural areas.

The move is to try to spread prosperity and provide employment opportunities for the many rural people who are not farmers, it said.

The government has also decided to focus its energies on providing infrastructure to boost industrial development.

It has also begun to privatise the public sector.

One of its programmes to help encourage investment was introduced in 1987.

The Deletion Policy was introduced to ensure that the engineering and technical industries became self-reliant.

The policy was also to ensure the transfer of technology, the creation of a broad-based engineering sector, to develop links among large, medium and small industries and to save foreign exchange.

Companies that opt to work under the policy are entitled to industrial and commercial incentives and concessions.

A deletion programme is developed by the government in consultation with the entrepreneur and vendor concerned.

Priority considerations in developing the programme are: the potential of the local engineering base, level of technical know-how available in the country, and the technology which could be arranged easily from abroad.

The items covered or asked to be deleted are those that could be developed, or where competency can be developed, through the transfer of technology from abroad.

The programme also aims to keep local manufacturing costs low by not placing high duties on imported items.

Items that cannot be made economically, or that cannot be developed technically, are granted a permanent, penalty-free import status.

The deletion policy was designed to be flexible, moderate and optional.

the government said.