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Sunday October 24, 2021

Buzdar inaugurates Chief Minister’s Investment Cell

October 15, 2021

LAHORE: Punjab Chief Minister Usman Buzdar on Thursday inaugurated the Chief Minister’s Investment Cell at a ceremony held at 90-SQA.

Addressing the ceremony, the CM said Punjab has emerged as the best choice for Chinese investors as 1.5 billion dollars investment has been made by Chinese investors in three years. Meanwhile, the biggest Chinese garments group “Challenge Fashion” is going to invest 15 crore dollars in Punjab. This cell would take every possible step to facilitate the investors while ensuring that no bureaucratic snafu could create any hurdle.

This cell would help the investors have direct access to high government officials to remove any restriction for their investment. The government is going to introduce a zero NOC policy to encourage business activities, he added. The Challenge Fashion has been issued an NOC in 14 days under this policy, he pointed out and maintained that more than 20 thousand new job opportunities are being created due to business-friendly initiatives of the government. The boards of the Punjab Industrial Estates Development and Management Company and the Faisalabad Industrial Estates Development and Management Company have been fully functionalized to provide better facilities to the investors.

The CM said the government is striving hard to promote trade and industry. It has issued 10 cement plant NOCs while the approval of as many applications is in process, he said. Similarly, there were only two special economic zones before the PTI government but this government has started work on 12 special economic zones while the industrialization process has been started in eight new SEZs. Similarly, 4 industrial estates are being given the status of SEZs, he stated. Alongside, the Punjab Rozgar Programme has started with the collaboration of the BoP to provide 30 billion rupees loans to the needy youth.

He said the government is providing modern agricultural equipment to small farmers at subsidized rates to promote agriculture and livestock sectors. Kisan cards have been issued to farmers.

The Punjab government is also taking part in the Dubai Expo to showcase to the world the strong socio-cultural and economic potentials of the province; he said and handed over the NOC to CEO Challenge Fashion Ms Karen.

Industries Minister Aslam Iqbal said besides setting up nine special economic zones, numerous steps have also been taken to arrange facilities for investment. Single Challan farms will be issued to industrialists for payment of taxes as all taxes relating to industry are being integrated, he disclosed.