ISLAMABAD - Ministry of Industries and Production has proposed 55 new projects for funding under Public Sector Development Programme (PSDP) 2018-19 in order to develop and promote the national industrial sector of the country.

It has proposes an allocation of Rs 8329.637 million for the development of these projects in next year PSDP  as against the Rs 2,737.27 million of same period last year, said an official in the Ministry of Industries and Production.

Talking to APP here on Wednesday, he said that the new projects would help in reducing un-employment and poverty by creating new jobs as well as to help in skill development and provision of training facilities and common machinery pools as well as transfer of technology.

He informed that by December 31, the government had released Rs 293.230 million for 13 ongoing projects of the ministry under the PSDP 2017-18, out of which an amount of Rs 234.75 million had been utilized so far.

In PSDP 2018-19, the ministry has proposed 3 projects of Industries and Commerce Department Government of Balochistan, 3 projects of technology up gradation and skill development company and one project of Lesbela  Industrial Development Authority.

Five projects relating to Small and Medium Enterprises Development Authority and one project of export processing zone was proposed for financing in next years development programme.

He further informed that during the fiscal year 2017-18, the Ministry of Planning Development and Reforms has allocated full remaining funds to 4 on going projects , which would be completed by June 2018 Industries and Production