Lahore: According to a news source, Chief Minister Sardar Usman Buzdar recently revealed the government’s intention to attain a 10 per cent average annual increase in the industrial growth rate. For this end, the executive would be offering a loan support program to encourage the set-up of small and medium scale industries to encourage employment opportunities.
He acknowledged the necessity of developing the trade and industrial sectors to strengthen the national economy. Buzdar said that a business registration portal and one-window centres would be set up to offer business-related assistance to traders and industrialists.
The CM also provided details regarding the Allama Iqbal Industrial Estate that is to be established on 3,317 acres in Faisalabad, and is estimated to cost around PKR 23 billion. He stated that 10,000 acres of provincial land would be utilized for the project to encourage the growth of industries (including 150 acres in Gujranwala and 63 acres in Wazirabad; which have been acquired to build small industrial estates).
CM Buzdar claimed that 6,000 employment opportunities would be generated from the investment of the six foreign companies. Also, he pledged to sanction interest-free loans for up to 7000 graduates of TEVTA institutes.
