Lahore: The Punjab government has approved the auction schedule for 548 cancelled plots in the province’s Small Industrial Estates, a decision that is expected to boost industrial growth and investment. The approval was granted during the 130th meeting of the board of the Punjab Small Industries Corporation (PSIC), held on Wednesday.
Presided over by the Provincial Minister for Industries and Commerce, Chaudhry Shafay Hussain, the meeting was attended by Secretary of Industries and Commerce Muhammad Umar Masood, Managing Director of PSIC Sara Masood, and various board members. The approved auction will cover plots in multiple Small Industrial Estates across the province.
In addition to approving the auction schedule, the board also approved the formation of a Board of Management for the Small Industrial Estate in Kasur. Another key decision was the increase in the monthly internship fee under the PSIC internship programme, which will now be raised from Rs 30,000 to Rs 60,000 per month. The establishment of a regional office for PSIC in Gujrat was also approved during the meeting.
The meeting further addressed the appeal of former PSIC Director Tariq Mahmood. The board provided an opportunity for personal hearings and formed a committee headed by the Special Secretary for Industries and Commerce to review the appeal. The committee’s recommendations will guide the board’s next steps.
Minister Chaudhry Shafay Hussain highlighted the significant shift in policy, stating that the practice of property trading in industrial estates, which had been a longstanding issue, would no longer be allowed. Moving forward, the government will ensure that only industrial units are established on the plots within these estates. He stressed that any entity failing to establish an industrial unit in line with government policy would face cancellation of their plot.
Chaudhry Shafay also emphasized the government’s focus on the full colonization of industrial estates across Punjab. “The goal is 100 percent utilization of industrial estates,” he said. He added that the government’s efforts to resolve industrialists’ issues would help increase employment opportunities, with a focus on improving infrastructure across the 23 Small Industrial Estates in the province.
This move is part of the Punjab government’s broader strategy to foster industrial development, boost employment, and create a conducive environment for businesses to thrive. The auction of these plots is expected to attract both local and foreign investments, contributing to the economic growth of the region.
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.
