NIP strives to extend bank financing facility at Rachna Industrial Park

Customs confiscates smuggled good worth Rs 3.80 million

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.