Provincial Minister of Industries and Commerce SM Tanveer presided over a meeting held at TEVTA Secretariat in which the industrial projects implemented by the Punjab Industrial Development Board and the situation after the dissolution of the board in 1997 were reviewed. In the briefing, the meeting was told that the Punjab Industrial Development Board has set up 14 industrial projects, including 5 sugar mills, 3 textile mills and 6 rice mills. All industrial projects undertaken by the board have been privatized, 18 cases are pending in various courts regarding recovery of dues. The cell is functioning under an administrator after the dissolution of the board to settle litigation and recovery of dues.
Provincial Minister Industries and Commerce SM Tanveer while addressing the meeting said that the expenditure of lakhs of rupees from the government treasury every year since 1997 to recover the dues of 10 crore rupees is deplorable. In a difficult economic situation, the country cannot afford to waste resources. Matters should be settled sitting together with the stakeholders. SM Tanveer said that Punjab's caretaker Ministry of Industries and Commerce has resolved years-old cases of industrialists and businessmen. Dues collection and other issues related to privatization of industrial projects set up by the board should be resolved. Secretary Industries and Commerce Ehsan Bhutta, Additional Secretary Industries, Mukhtar Ahmed from dissolved board and other concerned officers attended the meeting.