Lahore: Chief Minister Punjab Maryam Nawaz Sharif has announced the province’s first Punjab Innovation for Value, Opportunity and Transformation (PIVOT) programme, accompanied by the STEP portal, as part of a comprehensive three-year economic plan to enhance investment, exports, and employment in the region.
According to Directorate General Public Relation – Govt of Punjab, the initiative involves a government investment of approximately Rs1,089 billion and a private-sector contribution of Rs906 billion. It aims for a $6.8 billion increase in exports and the creation of 162,000 new jobs, with the plan expected to improve the quality of life for one million individuals over the next three years.
During a launch ceremony attended by key figures such as State Bank Governor Jameel Ahmad and members of the Pakistan Business Council, Chief Minister Sharif emphasized that PIVOT will drive economic transformation across multiple sectors including industry, agriculture, tourism, skills development, and technology. The plan, covering the years 2026 to 2029, is designed to expand economic opportunities, enhance industrial capacity, attract investment, and promote export-led growth.
The initiative allocates Rs753.7 billion to bolster Punjab’s industrial sector and aims to train 402,060 individuals over three years. It also includes Rs300 billion in concessional loans for industrial projects with interest rates ranging from zero to five percent. The programme intends to address business challenges such as limited access to finance, inadequate industrial infrastructure, skills shortages, regulatory hurdles, and high energy costs, incorporating measures like machinery duty refunds and support for solar and battery energy storage systems.
To further support economic development, four agro-processing parks will be established in Sargodha, Khanewal, Okara, and Bhakkar to enhance fruit processing and other value-added agricultural activities. The programme also targets manufacturing sectors such as garments, sports goods, leather, pharmaceuticals, and ceramics, while promoting modern farm mechanization and improved storage facilities.
Tourism is another focal point, with plans to invest in historical and religious sites, Lahore’s night-time economy, the Potohar region, Cholistan, and other tourism circuits. The programme also emphasizes skills and technology development, aiming to align young people’s expertise with domestic and international labor market demands through digital skills training, IT internships, and entrepreneurship support.
The programme’s success is expected to hinge on public-private partnerships, industrial land policies, and business-friendly labor regulations, with investor facilitation and transparent monitoring highlighted as crucial for effective implementation. A PIVOT secretariat will be established in the Planning and Development Department, and a dedicated cell will operate from the Chief Secretary’s Office to support the initiative.
The launch has garnered support from various industrial leaders, with Mian Mansha and Arif Habib among those expressing optimism about the programme’s potential. Habib announced plans to construct Pakistan’s tallest building in Lahore, highlighting the need for initiatives like PIVOT to stimulate growth.
The Punjab government asserts that the programme is poised to translate enhanced investment into robust exports, productive employment, and sustainable economic growth, signaling a significant step towards the economic future of Punjab and Pakistan.