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Punjab

CM Punjab unveils reforms to boost investment, modernise Punjab’s industries

Punjab Launches Rs5bn Pink Salt Financing Scheme
LAHORE, Oct 30 (APP):Chief Minister Punjab Maryam Nawaz Sharif on Friday said her government has introduced innovative reforms to bring the province into the digital age, improve the business environment and equip young people with modern skills to meet the demands of industry.
 Addressing the launch ceremony of the Punjab Innovation, Entrepreneurship and Technology (PIET) initiative, she said Punjab played a significant role in the national economy and that industrial growth depended on modern technology, skilled manpower and a business-friendly environment.
 She said the government had issued loans worth around Rs200 billion under the Asaan Karobar Scheme, while more than 200,000 people had obtained no-objection certificates and other approvals through the e-Biz platform.
 The chief minister said Punjab had a workforce of 36 million, with industries increasingly demanding skilled labour. The government had provided training to 400,000 skilled workers and planned to train another 600,000, she added.
 She said more than 1,200 startups were operating in Punjab, while 50 common facilities had been brought together to develop industrial clusters. The government had also consolidated skill development programmes under one roof to improve access to training.
 The chief minister said environmental monitoring was essential to making industries sustainable, but shutting down factories in the name of environmental protection was not the solution. Inspections should be strengthened and industrial units encouraged to meet environmental standards without depriving workers of their livelihoods, she said.
 “I have no desire to shut down anyone’s business, but there will be no compromise on standards,” she said, adding that the government’s objective was to provide people with a clean environment and safe food.
 The chief minister said the provincial government was focusing on broadening the tax base rather than imposing new taxes. Punjab’s revenue had increased from Rs200 billion to Rs1 trillion, she claimed.
 She said the government had pledged to eliminate red tape across departments before launching PIET and urged banks to simplify their procedures for extending business financing.
 CM Punjab said officials found accepting bribes were being dismissed from government departments. She also urged ministers to keep their security and protocol arrangements to a minimum.
 Referring to industrial development, she said Punjab manufactured cutlery and fans, but manufacturers had to send products to China for glazing, material testing and even noise testing of fans due to the lack of local certification facilities.
 She said international organisations, including FIFA, were reluctant to procure sports goods in the absence of proper certification. The government would work to address these gaps and strengthen local testing facilities, she added.
 The chief minister said industrial estates and special economic zones had largely turned into real estate ventures. The government planned to provide land for industrial use on lease at rates ranging from Rs80,000 to Rs200,000 per month to encourage manufacturing.
 She also said the government was taking steps to eliminate encroachments and the so-called ‘Dala culture’ from Punjab, adding that longstanding illegal occupations had been removed. Designated spaces had been created for street vendors so that roads remained accessible to commuters.
 Highlighting agricultural reforms, CM Punjab Maryam Nawaz said the government aimed to distribute 45,000 tractors this year, compared with only 3,000 distributed over the previous two decades. Modern agricultural machinery was also being introduced to increase productivity, while farmers were being provided tractors and super seeders at subsidised rates.
 She said the government was extending financial support to small and medium-sized investors and allocating substantial funds for agriculture and livestock development.
 Stressing the importance of a stable business environment, she said frequent protests, unrest and vandalism disrupted economic activity and made it difficult for workers and businesses to operate.
 “People are my family, and ensuring the safety of the food they consume is also my responsibility,” she said, reiterating that the government wanted businesses to flourish while ensuring quality standards and public health.

Source: APP (Associated Press of Pakistan)