LAHORE: Chief Minister Punjab Maryam Nawaz Sharif has launched the province’s first Punjab Innovation for Value, Opportunity and Transformation (PIVOT) programme, along with the STEP portal, as part of a three-year economic transformation plan aimed at boosting investment, exports and employment.
The programme envisages government investment of around Rs 1,089 billion and private-sector investment of Rs 906 billion, with an expected increase of USD 6.8 billion in exports and the creation of 162,000 additional jobs. The government estimates that the initiative will improve the quality of life of one million people over the next three years.
Addressing the launch ceremony, attended by State Bank Governor Jameel Ahmad, members of the Pakistan Business Council and prominent industrialists and investors, Maryam Nawaz Sharif said PIVOT would drive economic transformation across industry, agriculture, tourism, skills development and technology. She said the plan, covering 2026-29, was designed to expand economic opportunities, strengthen industrial capacity, attract investment and promote export-led growth.
Under the initiative, Rs 753.7 billion has been allocated to strengthen Punjab’s industrial sector, while a target has been set to train 402,060 people over three years. The programme also envisages concessional loans worth Rs 300 billion for industrial projects at interest rates ranging from zero to five per cent.
The chief minister said the plan would address challenges facing businesses, including limited access to finance, inadequate industrial infrastructure, skills shortages, regulatory hurdles and high energy costs. Measures would include machinery duty refunds and support for solar energy and battery energy storage systems.
Four agro-processing parks will be established in Sargodha, Khanewal, Okara and Bhakkar to promote fruit processing, cold storage, grading and other value-added activities. The initiative is expected to improve farmers’ access to markets and strengthen agricultural value chains.
The programme will also focus on manufacturing sectors such as garments, sports goods, leather and footwear, pharmaceuticals, fans and ceramics. Modern farm mechanisation, improved storage facilities, meat and dairy processing, disease prevention and financial support for farmers are also part of the plan.
The chief minister said aquaculture projects would promote shrimp farming, improve fisheries infrastructure and increase export-oriented production.
Tourism development is another component of PIVOT, with investment opportunities planned around historical and religious sites, Lahore’s night-time economy, the Potohar region, Cholistan and other tourism circuits.
The skills and technology component aims to equip young people with expertise matching domestic industrial requirements and international labour market demands. It includes digital skills training, IT internships, internationally recognised certifications, start-up incubation and entrepreneurship support.
The chief minister said economic reforms under the programme would also cover public-private partnerships, industrial land policy and business-friendly labour regulations. She stressed that investor facilitation and transparent monitoring would be central to ensuring effective implementation.
Chief Secretary Zahid Akhtar Zaman said a PIVOT secretariat would be established in the Planning and Development Department, while a dedicated cell would operate from the Chief Secretary’s Office. The deputy commissioners would serve as focal persons for the initiative in their respective districts.
Senior Minister Marriyum Aurangzeb said translating the PIVOT concept into a practical programme within six months reflected the chief minister’s vision. She said the initiative would strengthen government-industry partnerships and welcomed the confidence shown by investors from Punjab, Sindh, Khyber Pakhtunkhwa and other regions.
She also credited the improvement in the law and order situation with helping restore business confidence, while recalling former prime minister Nawaz Sharif’s efforts to improve the security environment and reduce energy costs for industry.
State Bank Governor Jameel Ahmad welcomed the launch, while leading industrialists expressed support for the initiative.
Industrialist Mian Mansha appreciated the improvement in the law and order situation in Punjab. Arif Habib announced plans to construct Pakistan’s tallest building at Lahore’s CBD One, saying the country needed programmes such as PIVOT.
Other business leaders, including Fawad Mukhtar, Zaid Bashir and Usman Khalid Waheed, also welcomed the initiative and pledged support for the provincial government’s efforts to promote investment and industrial growth.
Arif Habib said he saw a reflection of Nawaz Sharif in the chief minister’s approach, while other industrialists described PIVOT as an important step towards Punjab’s and Pakistan’s economic future.
The government says the programme aims to translate higher investment into stronger exports, productive employment and sustainable economic growth.
Copyright Business Recorder, 2026
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