Big plan launched for provision of missing facilities in 23 small industrial estates of Punjab: Shafay

Chairs 135th board meeting of PSIC
By Farzana Chaudhry
LAHORE, Pakistan: Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain chaired the 135th Board Meeting of Punjab Small Industries Corporation (PSIC), where a major program for the provision of missing facilities in 23 small industrial estates across Punjab was launched.
The meeting, held at PSIC House, deliberated on an eight-point agenda. Managing Director PSIC Mubeen Elahi briefed participants on various agenda items.
The Board approved repayment of a government loan amounting to Rs1.3 billion. It also approved the sale of 403 additional plots identified through surveys conducted in 20 small industrial estates. The sale is expected to generate around Rs11.22 billion, which will be utilized for establishing an endowment fund.
The Board further approved the auction schedule for redundant PSIC properties and sanctioned the revised PC-I of the Small Industrial Estate Mandi Bahauddin. Approval was also granted for hiring financial advisory services for PSIC.
During the meeting, proposals for amendments to the Punjab Small Industries Corporation Act 1973 were reviewed. Following approval by the Cabinet and the Punjab Assembly, the amendments are expected to expand the operational scope and mandate of PSIC.
The Board also decided to establish an effective monitoring committee to oversee the provision of missing facilities in 23 industrial estates across the province. Participants were additionally briefed on progress regarding civil works for the establishment of the Small Industrial Estate in Quaidabad.
Addressing the meeting, Chaudhry Shafay Hussain said that, under the directions of Punjab Chief Minister Maryam Nawaz Sharif, a business-friendly environment had been created in the province to promote industrial and commercial activities.
He stated that achieving 100 percent colonization of industrial estates is a key government policy, adding that industrialization would generate greater employment opportunities. He further informed the meeting that a new industrial estate is being developed in Quaidabad where industries related to value addition of pink salt will be established.
The provincial minister also directed PSIC regional directors to remain proactive and instructed that the master plans of small industrial estates be upgraded.
MD PSIC Mubeen Elahi informed the meeting that topographic surveys of all small industrial estates are underway. He added that work is also progressing on a program to convert PSIC vehicles into electric vehicles.
Secretary Industries Omar Masood, PSIC directors, and board members attended the meeting.