industrial policy, its spatial aspects and cluster development in ...

Pakistan due to difficulties in liquidation of businesses a huge amount of productive
capacity lies dormant at any point in time. The government should institute a more
transparent and efficient procedure/system to help distressed firms get out of business
quickly and at least cost.
For this purpose the government should:
• Recommend changes to the bankruptcy laws to make it easier for businesses to
acquire distressed firms. The transition and exchange of hands in business will be
made swifter under these legal revisions.
• Also fully support the Corporate Rehabilitation ACT being developed by SECP
and ensure that the ACT covers the possibility of providing technical support in
reviving the sick industry.
Implementing Cleaner Production Programs
Growth of the industrial sector cannot be visualized without strengthening cleaner
production programs in the country. As defined by the United Nations Environment
Program (UNEP), cleaner production is “the continuous application of an integrated
environmental strategy to processes, products and services to increase efficiency and
reduce risks to humans and the environment.” The implementation of cleaner
production programs is an integral part of the policies that aim at increased
competitiveness and increased efficiency of firms because they help firms save energy,
conserve water, control pollution, ensure safety of machines and equipment, improve
health and safety of workers, improve environmental conditions and the image of the
firm at the local and international levels.
To achieve the goals of implementation of cleaner production programs and to promote
investment in cleaner productions, the Ministry of Industries & Production should
advocate the following measures:
• Encourage and promote investment in local manufacturing of cleaner production
equipment along with other emerging environmental technologies. However, in
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