PBIT decides to initiate high-priority projects in first phase

LAHORE: The first meeting of the Project & Business Development Committee, established under the Government of Punjab, was held at the Punjab Board of Investment & Trade (PBIT) Office, here under the chairmanship of Muhammad Muntaha Ashraf, Chairman PBIT.

The session brought together representatives from public sector departments, the private sector, the Public-Private Partnership Authority, and key stakeholders from across industry. This strategic gathering marked a vital step toward creating an integrated roadmap for sustainable and investor-driven economic growth in the province.

The meeting featured key sector representatives, including Nabeel Ali Agha (Agriculture), Sania Awais (Energy), Sadaf Zafar (Tourism), Ata ul Rehman (IT) and Aijaz Hadayat (Additional Secretary, Mines & Minerals), who, along with other public and private sector stakeholders, discussed bankable projects, feasibility priorities, and public-private partnership models.

The committee convened with the goal of identifying bankable, viable, and policy-aligned projects that can unlock Punjab’s untapped investment potential. Within 15 days, the committee will identify 40 investment projects across various sectors. In a unified move, the committee resolved to initiate high-priority projects in the first phase, with detailed feasibility studies to be completed within three months.

Additionally, five flagship projects were selected for accelerated development with a six-month target for technical completion. These projects are expected to serve as catalysts for economic transformation across critical sectors.

Chairman Muhammad Muntaha Ashraf emphasized that Punjab’s economic success is intrinsically linked to the private sector’s proactive involvement.

He reiterated the Government of Punjab’s commitment to building a transparent, fast-track, and investor-friendly ecosystem. “Our mission is to empower private sector innovation through strategic collaboration, creating a fertile environment for both local and foreign investors,” he said. The committee also discussed the formation of sector-specific sub-committees to streamline project execution and technical validation.

All committee recommendations will be submitted to the Chief Minister for approval. The next plenary will review progress on the project bank, investor briefings, matchmaking sessions, and further steps to showcase Punjab as a regional hub of investment excellence.

Copyright Business Recorder, 2025