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Thursday March 28, 2024

Punjab to set up PSIC Development Bank

By Our Correspondent
August 14, 2020

LAHORE:The Punjab government Thursday permitted creation of Punjab Small Industry Corporation Development Bank (PSIC Development Bank) for the assistance of the poor to earn respectfully.

The decision was made in 111th Board of Directors meeting of the PSIC chaired by Punjab Minister for Industries and Trade Mian Aslam Iqbal. The BOD constituted a committee headed by the Board member Naeem Awan to chalk out the proposals and recommendations for the PSIC Development Bank.

The BODs approved Rs4.8 billion annual budget of the PSIC alongside PSIC employees’ utility allowance, and revise PC-I of the under constructed PSIC House on Davis Road. The BODs approved the revised PC-I of the Small Industrial Estate Wazirabad and Small Industrial Estate Gujranwala. The meeting also approved establishment of Artesian Village at Silanwali.

The minister instructed to chalk out a strategy for the establishment of the industrial units in the vacant plots in the industrial estate. He said industrialisation eradicated the poverty. He said thousands of acres industrial estates will bring industrial revolution in the province. He ordered ensuring the 100 percent occupancy of the industrial estates.

technical education: Punjab Skills Development Authority has been made pro-active in order to bring the technical education institutions under one umbrella.

This was stated by the provincial minister for industries and trade Mian Aslam Iqbal chairing a meeting to discuss the matters pertaining to Punjab Skills Development Authority, preparation of skilled human resource and promotion of technical education courses in the wake of COVID-19 came under review.

The minister said that small, medium and big industries planning would be undertaken for the provision of skilled human resource and special emphasis would be given to prepare trained human resource according to the daily needs of the society and special courses would be chalked out according to the market needs to prepare skilled human resource.

The minister directed that the skilled human resource in the foreign countries should be recruited and planning be undertaken by the embassies. He emphasised that all children should be provided an opportunity to learn the skills without any educational restrictions in the institutions. The minister directed that technical education institutions should ensure the completion of projects according to the fixed timeline.

daycare centres: Punjab has seen an increase in the number of daycare centres in the last two years.

When this government took charge there were 68 such facilities. Of the 137 daycare centres 37 of them are already functional and 82 of them will soon be operational while 18 are under construction, this was stated by Ashifa Riaz Fatyana, Minister for Women Development, in a meeting with NGO representatives. She said the process of application for establishing a daycare centre has been made very easy so that all working women and their children can benefit from this facility.

residential units: LDA Vice Chairman SM Imran has said that PC-I amounting to two trillion rupees has been prepared for construction of 35,000 residential apartments in LDA City, in-line with the vision of Prime Minister of Pakistan.

He said PC-I will be presented in the meeting of the governing body of LDA for seeking its formal approval. He informed that the project has been named as “LDA City Naya Pakistan Apartments’’. Meanwhile, a meeting of the steering committee for this project was held on Thursday to review the initial progress in this regard.