Lahore, October 16, 2021 (PPI-OT):Chief Minister Punjab Sardar Usman Buzdar inaugurated the chief minister’s investment cell at a ceremony held at 90-SQA on Thursday. Addressing the ceremony, the CM expressed the satisfaction that Punjab has emerged as the best choice for Chinese investors as 1.5 billion dollars investment has been made by Chinese investors in a period of three years. Meanwhile, the biggest Chinese garments group “Challenge Fashion” is going to invest 15 crore dollars in Punjab.
This cell would take every possible step to facilitate the investors while ensuring that no bureaucratic snafu could create any hurdle, he added. This cell would also help the investors to have direct access to high government officials to remove any restriction in their investment. The government is going to introduce a zero NOC policy to encourage business activities, he added.
‘Challenge Fashion’ has been issued NOC in 14 days under this policy, he pointed out and maintained that more than 20 thousand new job opportunities were being created due to business-friendly initiatives of the government. The boards of Punjab Industrial Estates Development and Management Company and Faisalabad Industrial Estates Development and Management Company have been fully functionalized to provide better facilities to the investors.
The CM said the government was striving hard to promote trade and industry. It has issued 10 cement plant NOCs while the approval of as many applications is in process, he continued. Similarly, there were only two special economic zones before the PTI government but this government has started work on 12 special economic zones while the industrialization process has been started in 8 new SEZs. Similarly, 4 industrial estates were being given the status of SEZs, he stated.
Alongside, Punjab Rozgar Programme has started with the collaboration of BOP to provide 30 billion rupees loans to the needy youth. The government was also providing modern agri equipment to the small farmers on subsidized rates to promote agriculture and livestock sectors, the CM stated. Kisan cards have been issued to farmers, he noted.
The Punjab government was also taking part in the Dubai Expo to showcase to the world the strong socio-cultural and economic potentials of the province; he said and handed over NOC to CEO ‘Challenge Fashion’ Ms Karen. Industries Minister Mian Aslam Iqbal said besides setting up 9 special economic zones, numerous steps have also been taken to arrange facilities for investment. Single challan farms will be issued to industrialists for payment of taxes as all taxes relating to industry were being integrated, he disclosed.
Finance Minister Hashim Jawan Bakht stated that ease of doing business has been ensured adding that a conducive environment was arranged for investment. This has helped in increasing investment in the province, he added. SAPM for CPEC Khalid Mansoor stated that tremendous facilities have been created for investors by the Punjab government and added that this cell would play a key role in this regard. The zero NOC regime would enhance investment, he added.
Ms Karen thanked the PM and CM Punjab for extending full support to set up a facilitation cell and disclosed that her company was establishing an industrial park over an area of 100 acres to create a number of job opportunities. Qamar Khan also spoke on this occasion. Chinese Consul General, provincial ministers, SACM Hasan Khawar, MPAs, Chinese investors, businessmen, administrative secretaries and others were also present.
For more information, contact:
Office of the Chief Minister of Punjab
Government of the Punjab
8-Club Road, GOR-I, Lahore, Pakistan
Tel: +92-42-99205562-3
Fax: +92-42-99205561
Website: https://cm.punjab.gov.pk/