LAHORE : Provincial Minister for Industry and Trade Mian Aslam Iqbal again announced abolishing the licensing fee of scale regarding weights and measures which was already announced in the provincial budget through Finance Bill.
Addressing a press conference in DGPR Office here Tuesday, he claimed that the step of the government would benefit more than two lakh small shopkeepers and vendors. New industrial policy has been announced and under this policy the target of 10 percent industrial growth annually will be achieved while 1.2 million job opportunities will be created every year.
The Punjab government has planned initially to launch three initiatives for establishing new business and supporting and existing one PSIC has been activated to execute the scheme. PC-Is have been prepared and submitted for approval. Credit Guarantee Scheme is being introduced under this scheme.
Punjab Small Industry Corporation will give guarantee for 80 percent loan while bank will be responsible for 20 percent. Loan markup support programme is also being started. Under this programme, PSIC will provide 3.5 percent markup and 10 million loans will be provided through this scheme. Soft loan programme is also being started soon for the skilled youths. Up to three million loans will be provided to those who present their business plan.
He said that effective measures are being taken to promote local and foreign investment. Special economic zones are being set up where 10 years income tax holiday will be given to investors. Punjab Special Economic Zone Authority has been set up and in its first meeting seven industrial units have been given the status of special economic zone. This step will create four lakh job opportunities.
He said that process of getting NOC for establishing industry is made easier. Twenty-six departments of Punjab and 19 departments of Centre will work closely for this purpose. Every department will be bound to issue NOC within the limited period. He said that we are planning to introduce inspector-less regime after getting approval from Punjab Cabinet it will be implemented. He said that new industrial estate is being established on Lahore-Sialkot Motorway and good news will be listened in next two months in this regard. The work on Quaid-e-Azam Apparel Park project is being started soon. Only textile units will be set up in this park. He said that special economic zone in Faisalabad will be completed in 2019. He said the government has decided to establish four technology universities in Punjab. PTUT has earlier been established but it is not fully functional. Act for Rasool University of Technology Mandi Bahauddin was passed but it has yet to be implemented in terms of operationalising university. One university in DG Khan and one in Rawalpindi will also be set up. Answering the question of reporters, the minister said that the law of minimum of the labourer will be fully implemented and price control committees will be made fully activated. Replying to another question, he said that NAB is a constitutional institute and performing its responsibilities.
Festival: Tourism Development Corporation of Punjab (TDCP) has taken the initiative of Agri-tourism for attraction of tourists and the local community. This was stated by Minister for Tourism Raja Yasir Humayan Sarfraz during a press briefing on Tuesday. He said TDCP arranged Agri-Tourism Festival every month and the first Guava Festival would be organised at Ayaz Farm, Sharqpur, on Dec 23 from 10:30am to 03:30 pm.
conference: Punjab University Hailey College of Banking & Finance (HCBF) will organise two-day third international conference on Banking, Insurance and Business Management (CBIBM-2018). In this regard the inaugural ceremony will be held on Wednesday (today) at HCBF (Old Campus). Vice-Chancellor Prof Niaz Ahmad Akhter, Banking Services Corporation State Bank of Pakistan Chief Executive Qasim Nawaz, Chamber of Commerce & Industries President Almas Haider, Women Chamber of Commerce & Industries President Falahat Imran and others will attend the event.