Nineteen enterprises  are going to receive ‘President’s Award for Industrial Development 2019’ on Thursday  for their contributions to industrial growth and economic development.

The Minister said there are about 1.25 lakh small scale industries, 6 lakh cottage industries in the country while 3.7 million people have been employed in small and cottage industries so far.

Besides, about 1 million SMEs have already been set up in the country.

“These SMEs are contributing 23% to the GDP and 70% to the total industrial employment. In addition, the informal industry in the country is developing rapidly and is making a significant contribution to employment. BSIC, BITAC and SME Foundation under the Ministry of Industries are also playing a role in enhancing their skills. The ministry has also made an outstanding contribution to the success of the industrial entrepreneurs and organizations who are going to receive the award in the virtual presence of the President tomorrow,” he added

He said that  the ministry has introduced the Industrial Development Award to encourage the private sector and their creativity and formulated the guidelines for awarding in 2019.

In the small industry category, Promi Agro Foods Ltd came 1st while Madhobdi Dyeing Finishing Mills Ltd came 2nd, and APS Holding Ltd came 3rd.