Incentive package for small industrialists approved

LAHORE: Provincial Minister for Industries and Trade Mian Aslam Iqbal here Wednesday chaired 114th meeting of the Board of Directors of Punjab Small Industries Corporation (PSIC) and approved an incentive package for setting up industrial units by plots allottees in different small industrial estates.

The meeting also extended deadline for setting up industrial units by allottees in industrial estates under Small Industrial Estates Policy-2019 from December 31, 2020 to 30-06-2021.

Under the package, the minister said, the allottees completing their industrial units within the stipulated period would be given a 50 per cent discount in the admissible non-development charges.

The government had provided the opportunity to plots allottees to set up their industrial units due to coronavirus and the plots would be cancelled in case of failure in setting up industrial units, he maintained.

The PSIC board also approved to establish a handicrafts development centre in Vohwa area of Taunsa Tehsil in DG Khan to train the local women.

The minister directed the authorities concerned to observe rules for hiring a consultant for an engineering consultancy in PSIC building and demanded to provide a performance report of the regional directors.

He said that 100 per cent colonization of industrial estates was a policy of the Punjab government as it would promote trade and economic activities.

He pointed out that an incentive package had been announced for the allottees of small industries estates and the industrialists could benefit from the Punjab Rozgar Scheme as well.

He directed that private universities should also be included in the programme of setting up R&D centres in universities.

Additional secretary industries, MD PSIC and board members attended the meeting.