Lahore: The government is setting up an industrial zone on 3,000 acres in Faisalabad as well as an Apparel Park on 1,500 acres in Sheikhupura, a news source quoted Punjab Minister for Industries, Commerce and Investment Mian Aslam Iqbal. He was talking to stakeholders at the Lahore Chamber of Commerce and Industry (LCCI).
The minister said that an industrial policy has been forwarded to the provincial cabinet for approval. He added that the policy covers one-window operation, special economic zones, income tax holiday and zero duty on import of industrial machinery.
He said policies are being formulated to bring non-tax payers into the tax bracket, adding that Punjab Small Industries Corporation (PSIC) has developed three categories for soft loaning.
The minister said the government is making efforts to revamp Technical Education & Vocational Training Authority (TEVTA), adding that technical education will be brought under one roof. He said that exports enhancement and imports reduction is one of the top priorities of the government.
