Minister Reviews Investment Promotion, Industrialisation Process

LAHORE, (UrduPoint / Pakistan Point News - 5th Dec, 2020 ) :Punjab Industry and Commerce Minister Mian Aslam Iqbal chaired a meeting here Saturday to review promotion of investment, enhanced industrialization, the process of setting up of new industrial estates and provision of facilities to industrialists.

Later, talking to the media, he said that an effective strategy had been worked out to make Punjab a hub of economic, trade and business activities. The establishment of new industrial estates in the province had laid the foundation of the industrial revolution, he said and added new industrial units in industrial estates have started production. With the acceleration of industrialisation, a new era of development and prosperity is about to begin in Punjab, he disclosed.

The minister said that work on 13 Special Economic Zones (SEZs) in Punjab had been accelerated and barriers to industrialization and investment had been removed; outdated and unnecessary regulations were being scrapped to facilitate business, he said.

In the past, the property business was counting on the name of industrialisation in industrial estates, he mentioned and vowed, "we will not allow this to happen. The plot acquired for setting up an industrial unit will now be used only for setting up an industrial unit." Department of Industry and Commerce, board of Investment, PIEDMC (Punjab Industrial Estates Management and Development Company) and FIEDMC (Faisalabad) must continue to provide facilities to domestic and foreign investors, Additional Secretary Industry and Commerce, CEO Punjab Board of Investment, CEOs of PIEDMC, and FIEDMC and other officers concerned attended the meeting.