‘Industrial plots will be given at lower rates under rental policy’

LAHORE: Provincial Minister for Industries and Commerce, Chaudhry Shafay Hussain said that industrial plots in industrial estates will be given at lower rates under a rental policy.

The Chief Minister has announced the establishment of Garment City, and machinery import in free zones has been made zero-rated. He said this while addressing a meeting at the Lahore Chamber of Commerce and Industry.

LCCI President Faheem Ur Rehman Saigol welcomed the minister while Senior Vice President Tanveer Ahmed Sheikh, Vice President Khurram Lodhi, former Presidents Mian Anjum Nisar, former SVPs Ali Hussam Asghar, Zafar Mahmood Chaudhry, and members of the Executive Committee were also present.

The Minister congratulated the office bearers and said that during his two years in office, major reforms have been made in industrial zones. He said that 90 percent of plots in Special Economic Zones (SEZs) that were lying unused for years have been cancelled. If production does not start within two years, plots will now be cancelled.

He said that all basic facilities including security, housing, and banking are being improved in FIEDMC and other industrial estates. Vivo Mobile will start manufacturing in Pakistan soon, while new projects in pharma, plastic, furniture, and lithium batteries are also coming.

He shared that industrial zones are being expanded in Sheikhupura, Vehari, Multan, Rahim Yar Khan, Bahawalpur, Sialkot and other cities. A new industrial estate and Surgical City on 1400 acres will also be launched soon in Sialkot.

He said that Punjab is increasing industrial cooperation with Iran and China, promoting solar and chip manufacturing, and starting electric buses to control smog.

The Minister requested full support from the business community and said that NOCs are now being issued within 30 days at Business Facilitation Centers, and more centers will be opened in other cities. The agreement with Hong Kong Trade Development will help Pakistani businesses enter the global market.

Chaudhry Shafay Hussain said that misuse of industrial land will not be allowed, and plots of those who do not set up industries within five years will be cancelled. Industrial development is a top priority for the government, and decisions will be made with business community consultation.

LCCI President Faheem Ur Rehman Saigol appreciated the government’s decision to abolish sales tax on rental income and said fixing wheat prices is an important step. However, he emphasized that the cost of doing business in Punjab must be further reduced. He added that power tariff and interest rates are too high and must be brought down to single digits.

He said that industries are facing challenges due to smog and recent floods. Since industries contribute only 9 percent to smog, closing them without notice is concerning. He said Lahore Chamber must be taken into confidence before any shutdowns.

Copyright Business Recorder, 2025