The Government has announced to start construction work on six industrial units situated at the new industrial estate in Dara Adam Khel. It includes four factories of hunting and sporting arms. These industrial units are export-oriented and will mobilise investment of about Rs1.6 billion and generate 500 employment opportunities in the region. These initiatives will transform the concerned region into a newly emerging industrial zone.
The Industrial sector of Pakistan is the second-largest individual sector contributing 24% to the GDP. The growth rate of the industrial sector is about 4.98%. Industrial development means more investment, employment and production. However, most of the economic problems in the country are directly linked to the slow pace of industrial development.
Given its importance in economic development, the government focuses on developing the industrial sector. The concerned sector needs more investment as it is an import and consumption-led economy, and industrial projects like this are the steps to move towards an industrialised state.
Industrial development plays a significant role in the economic development of a country. Nations with strong industrial sectors have shown more economic growth, leading to improved national income and standard of living. It creates tremendous employment opportunities and raises the productive capacity of people. A powerful industrial sector can make a country economically stronger and capable of defending itself against any aggression.
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