CM Asan Karobar, Karobar Card schemes approved

LAHORE : Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain chaired the 129th meeting of Punjab Small Industries Corporation (PSIC) board members at the PSIC House on Tuesday. A 13-point agenda was discussed in the meeting.

The PSIC board approved the schemes of CM Asan Karobar and CM Karobar Card. Under these schemes, interest-free loans ranging from Rs5 lakh to Rs30 million will be provided for businesses and the final approval of these schemes will be taken from the Punjab Cabinet.

The board approved the auction of 63 redundant properties in various small industrial estates and decided to give a final notice to the owners of 500 plots cancelled due to non-installation of industrial units in Punjab Small Industrial Estates. The plots of the owners who did not respond in two months will be sold and after the auction of the cancelled plots, the money will be returned to the owners and a fine will also be collected as per the policy.

The board has reduced the fee for changing the title, style and corporate set up of the business across Punjab from one percent to 0.5 percent. The board also approved a strategy for full utilisation of Artisan Village Kot Abdul Malik and Gandhara Art Village and sought the business plan of these projects.

Addressing the meeting, Chaudhry Shafay said that the process of colonisation of industrial estates will be accelerated through the loaning schemes of Punjab Small Industries Corporation. People will get employment after launching of new factories.

“My mission is to accelerate the process of industrialisation in the province and I will not tolerate any obstacle in this regard”.

The provincial minister directed that a final notice should be sent to those who have not yet installed water treatment plants in industrial units and full attention should be paid to tree plantation in small industrial estates. He said that the services of good lawyers should be sought for early decisions on the cases of PSIC.