LAHORE: The Punjab Small Industries Corporation (PSIC) Board in it’s 136th meeting, chaired by Provincial Minister Ch Shafay Hussain, approved the Rs14.285 billion budget estimates for the new financial year.
The Board also approved the revised PC-I for the Mandi Bahauddin Small Industrial Estate and the revised rates for booking industrial plots. The PC-I for the upgradation of the handicraft shop at PSIC House was also approved.
The board approved an increase in the medical allowance for retired PSIC employees. For this purpose, the corporation will contribute Rs400 million from its own resources to the pension fund. Approval was also granted for a housing scheme for PSIC employees under the Prime Minister’s Apna Ghar Programme.
The board further approved increasing the honorarium of PSIC Board members from Rs 25,000 to Rs 40,000. Several other administrative and financial matters were also approved. The meeting reviewed various proposals aimed at enhancing PSIC’s revenue and took important decisions to improve facilities and infrastructure in Punjab’s 23 Small Industrial Estates.
Addressing the meeting, Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain said that the interest-free loan schemes launched on the directions of the chief minister had played a pivotal role in promoting economic activity across the province. He said traders and industrialists had greatly benefited from the Asaan Karobar Card and Asaan Karobar Finance schemes.
He further stated that the Punjab government is launching a major programme for industrial development and export promotion. Under this initiative, the Bank of Punjab will provide Rs300 billion in business financing to stimulate economic and commercial activities.
The programme is scheduled to be launched in October this year. Under the first category, businesses will be able to obtain interest-free loans of up to Rs100 million. Under the second category, loans of up to Rs1 billion will be available at a 3 percent markup, while under the third category, businesses will be eligible for loans of up to Rs5 billion at a 5 percent markup.
The minister also announced that work on upgrading infrastructure in Punjab’s 23 Small Industrial Estates will commence this year.
He further said that a new Small Industrial Estate in Mandi Bahauddin is being developed where industrial plots will be available on easy installment plans. Managing Director Mubeen Elahi informed the Board that the PSIC had generated approximately Rs2 billion during the last six months through the sale of surplus plots in Small Industrial Estates.
Copyright Business Recorder, 2026
Comments