Secretary Ministry of Industries and Production Arif Azeem on Thursday said that due to withdrawal of subsidies many industries have been shifted to Bangladesh and government has no scheme for the revival of industry in the country.

While briefing the Senate Standing Committee on Industries and Production he said that the draft of industrial policy is lying with ECC for approval.

He said that it has been decided to privatise sick units including four major units of Heavy Electric Corporation, Machine Tool Factory, Heavy Mechanical Complex and Pakistan Steel.

The committee was informed that the summary of privitisation of Steel Mill has been sent and the bailout package amount Rs.9-10 billion.

Chairman committee Senator Hidayat Ulalh expressed concerns over not providing facilities to industrialists in Risalpur Marble City. Industrialists have imported machinery worth millions but there is neither water nor electricity in the area, he said.

The committee expressed reservations over losses incurred in deep covered drilling mining, as the drilling was started without any feasibility.

The committee observed that top quality stones of the country were sold at throw away prices.

SMEDA acting Managing Director said that his organisation has 93 employees and 91,000 people are being provided services. He lamented that his department was in rented space from last 17 years.

Senator Taj Haider suggested that instead of privatising government departments, the industrialists should be allotted government land. The committee decided to visit Machine Tool Factory and Steel Mill for a precise briefing.

APP adds: Senate body on Wednesday was informed that Ministry of Industries and Production (MOIP) had submitted new automobile policy to Economic Coordination Committee (ECC) of the Cabinet for formal approval.

"Under the new policy, the auto manufacturers in the country would be required to meet the international standards of safety measures including introducing airbags and anti-locking braking system (ABS) even in 800cc vehicles",Muhammad Arif Azeem informed the committee.

He informed the committee that currently the cars manufacturers had no restriction regarding the safety measures but after the approval of the new policy, the automakers would be bound to meet the minimum international safety measures. The meeting questioned the quality of the commodities at the Utility Stores and urged the Ministry to further improve the quality of the items.