Govt’s nod sought for industrial policy

LAHORE: Punjab Minister for Industries, Commerce and Investment Mian Aslam Iqbal has said that industrial policy for the province has been forwarded to the cabinet for approval.

Policy has one window operation, Special Economic Zones, Income Tax Holiday and zero duty on import of industrial machinery in its fold. Speaking at the Lahore Chamber of Commerce and Industry (LCCI), the provincial minister said industrial policy will help groom industrial sector.

An industrial zone on 3,000 acres in Faisalabad and Apparel Park on 1,500 acres in Sheikhpura are being setup, he said.

Measures will be taken to bring untaxed sectors into the tax net, he said, adding that Punjab Small Industries Corporation (PSIC) has developed three categories for soft loaning. TEVTA is being revamped and technical education is being brought under one roof, the provincial minister said, adding that exports enhancement and imports reduction is one of the top priorities of the government.