LAHORE: The Punjab Small Industries Corporation (PSIC) has approved a concessional package for setting up of industrial units in the small industrial estates across the province.
The decision was taken in the 114th PSIC Board meeting held here Wednesday which was presided over by Punjab Minister for Industries and Trade Mian Aslam Iqbal. The concession package was approved for the plots allottees keeping in view the prevailing Covid-19 epidemic. The allottees were allowed to set up their industrial units under the Punjab Small Industries Corporation Policy 2019 which is going to expire on 31st December 2020. The Board has extended this period for another six months till June 30, 2021. In the wake of Covid-19, the allottees who would establish their units till September 30, 2021, would be given a rebate of 50 percent in the receivable non-construction charges.
The Board has given a last chance to the allottees of industrial plots to set up industrial units.
However, the Board has decided to cancel the allotment of plots who would fail to establish units in the small industrial estates.
The Board meeting also accorded its approval for establishment of handicraft development centre at Wohava, Tehsil Tunsa of Dera Ghazi Khan where sewing and embroidery training would be imparted to women.
The minister directed to adopt rules and regulations for hiring a consultant regarding engineering consultancy of the PSIC building and sought a report on the performance of PSIC regional directors.
The minister directed to also include private universities for setting up of PSIC research and development centres in the province.
Copyright Business Recorder, 2020
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