Investment linked to industries' progress: CM

LAHORE: Punjab Chief Minister Sardar Usman Buzdar Friday said that investment could only be boosted if industries in the province make progress.

Also, he added, new investment could create numerous opportunities for employment.

Chairing a meeting at the CM office, Usman Buzdar said that the provincial government had taken a major step for promotion of investment of billions of rupees in the province through simplifying issuance of no objection certificates (NOCs) from different departments for setting up of cement factories.

"The government has also linked the issuance of NOCs with a timeline whereas it has been decided to made necessary amendment to the rules and regulations regarding the unused mining lease," he said and added that the government would facilitate investors by all means.

He ordered for further expediting the process of issuing the NOCs besides simplifying the rules and regulations for the convenience of investors.

Usman Buzdar said that he would not tolerate any delay in this regard.

He expressed satisfaction over the progress made in issuance of the NOCs and lauded the performance of industries and other departments concerned.

Buzdar ordered for constituting a steering committee, headed by the secretary Local Government. This committee will review the entire process and ensure timely issuance of the NOCs.

The secretary industries briefed the meeting that the Punjab government had received 23 applications for installing cement plants.

The NOCs would be issued to five applicants on the beginning of next month whereas necessary action has been initiated on the rest of the applications. A cement plant costs Rs. 30 to 40 billion.

Provincial Minister Mian Aslam Iqbal, Chief Secretary, Secretaries Local Government, heads of Irrigation, Industry, Minerals, Environment, Special Monitoring Unit and officials concerned were present.