NIP strives to ex­tend bank fi­nanc­ing fa­cil­ity at Rachna In­dus­trial Park

Cus­toms con­fis­cates smug­gled good worth Rs 3.80 mil­lion

The Pak Banker - - NATIONAL - Staff Re­porter

Na­tional In­dus­trial Parks Devel­op­ment & Man­age­ment Com­pany (NIP) has ex­tended its fa­cil­i­ta­tion for the up-coming In­dus­tri­al­ist at Rachna In­dus­trial Park by pro­vid­ing fa­cil­i­ties of bank fi­nanc­ing to pur­chase in­dus­trial plots and Project es­tab­lish­ment.

This was an­nounced by NIP CEO, Mr. Mohsin Syed at a meet­ing with small and medium en­ter­prises rep­re­sen­ta­tives at NIP of­fice here yes­ter­day.

The Chief Ex­ec­u­tive Of­fi­cer Mohsin syed says that the pri­mary ob­jec­tive of NIP is to as­sist the small and medium en­ter­prises with the col­lab­o­ra­tion of renowned banks and fi­nan­cial in­sti­tu­tions for ex­tend­ing term fi­nance for in­vest­ment in the man­u­fac­tur­ing sec­tor of the econ­omy while NIP has also be­come an im­por­tant com­po­nent of the in­dus­trial sec­tor of Pak­istan as a pub­lic-pri­vate part­ner­ship to de­velop fo­cussed in­dus­trial growth by set­ting up world­class in­dus­trial parks in the Pak­istan.

For at­tain­ing its ob­jec­tives, NIP and its col­lab­o­rated banks and fi­nan­cial in­sti­tu­tions pro­vide medium and long term

Pak­istan Cus­toms here on Wed­nes­day con­fis­cated liquor and smug­gle goods worth Rs. 3.80 mil­lion at Be­nazir Bhutto In­ter­na­tional Air­port. Ac­cord­ing to state­ment of the Pak­istan Model Cus­toms Col­lec­torate Is­lam­abad, in pur­suance of cred­i­ble in­for­ma­tion strict vig­i­lance was kept over pas­sen­gers ar­riv­ing via Emi­rates Air­line flight EK-614 at Be­nazir Bhutto In­ter­na­tional Air­port, Is­lam­abad at about 1:35 am and bag­gage of sus­pected pas­sen­gers was scanned. The state­ment said that af­ter clear­ance of all pas­sen­gers eight bags were found aban­doned near the con­veyer belt of in­ter­na­tional ar­rival hall. The bags were opened in the pres­ence of the air­line staff con­cerned which re­sulted in re­cov­ery of 166 bot­tles of supreme qual­ity whisky, 20 lap­top com­put­ers and 11 Sam­sung Galaxy Tablets. The Pak­istan Cus­toms dur­ing the search found from the bags Chivas Re­gal (1.4 Ltr) of 24 bot­tles, Black La­bel (1 Ltr) of 47 bot­tles, Cana­dian Royal Crown Black (375 ml) of 20 bot­tles. fi­nance in lo­cal and for­eign cur­ren­cies for the cre­ation of fixed as­sets to new in­dus­trial projects as well as for ex­pan­sion, balancing, mod­ern­iza­tion or re­place­ment of ex­ist­ing projects and also ex­tends tech­ni­cal, fi­nan­cial and man­age­rial ad­vice to its clients in plan­ning and ex­e­cu­tion of the in­dus­trial projects be­sides It fa­cil­i­tates trans­fer of tech­nolo­gies from devel­oped coun­tries to in­dus­trial en­ter­prises in Pak­istan, The CEO in­formed the gath­er­ing.

Giv­ing de­tails about the ar­range­ments with banks MOHSIN SYED in­formed that the in­dus­tri­al­ists of the in­tended in­dus­trial units have to sub­mit de­tailed fea­si­bil­ity, con­struc­tion plan, num­ber of em­ploy­ees, cash flow and other in­for­ma­tion re­lated to the project to qual­ify for this fa­cil­ity.

He told that the in­dus­trial units who are fac­ing en­vi­ron­ment is­sues as well, it is best op­por­tu­nity for them to re­lo­cate their in­dus­trial units from ur­ban ar­eas to pol­lu­tion free zone at Rachna In­dus­trial Park La­hore- Shekhopura Raod La­hore.

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