992 scientists on 308 projects to boost industrial production in Pakistan

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992 scientists on 308 projects to boost industrial production in Pakistan

ISLAMABAD (APP): Engineering Development Board (EDB)has engaged a team of 992 scientists in 308 fields under Industrial Research Programme, launched to address technical issues pertainingto product design and development.

The team includes professors, scientists, technologists and researchers (Ph.D and M.Phil) to conduct R & D activities indifferent fields which cover almost all products related to engineering, applied physics and applied chemistry.

Sources at Industries and Production Division on Sunday said so far different industries from sugar, steel re-rolling, surgical, cutlery, fan, automotive vendor, HVACR, electric fittings etc. are availing research and development facilities under IRP.

These services are provided on competitive basis funded purely the recipients, the sources said.

The sources said IRP has been initiated by Engineering Development Board with an aim to foster much-needed innovation in industry to enhance its competitiveness.

Highlighting the other steps taken to increase industrial production, the sources said the government decided to exempt all industrial feeders from electricity load-shedding.

Uninterrupted supply of electricity to industrial sector would not only help boost economy but also production of industrial sector.

State Bank of Pakistan reduced lending rate to 6 percent from 9.5 percent to increase industrial/economic growth.

Moreover, the sources said the government also approved new entrant policy for motorcycle industry which has paved the way for new investment.

The sources said under this policy M/s Yamaha Motorcycle Industry have been declared as new entrant. M/s Yamaha Motorcycle Industry is making investment of US $ 150 million within next 5 years.

The other manufacturers in motorcycle industry will be encouraged to make new investment.

Similarly, Automotive Development Policy-2016 has been approved. A new manufacturer under Automotive Development Policy (2016-2021), establishing maiden assembly facility will invariably need separate treatment and greater incentives in early years to enable it to introduce its brand, develop a market niche and share, create a distribution and after-sales service networks, and develop a part-manufacturer base.