- Sharif orders Punjab Investment Board to maintain close contact with provincial depts, federal institutions to provide maximum facilities to investors
- Says promotion of investment to increase production, create more jobs
Chief Minister Shehbaz Sharif said on Thursday there are vast opportunities of investment in the province and the Punjab Investment Board will have to play an active role for promotion of local and foreign investment.
Presiding over a high-level meeting which reviewed performance of the Punjab Investment Board and measures with regards to promotion of local and foreign investment in the province, the chief minister said that promotion of investment would not only increase production, but would also create more job opportunities.
Sharif said the Punjab Investment Board would have to work on modern lines and should maintain a close contact with the provincial departments and federal institutions to provide maximum facilities to investors.
Observing that medium and small scale businesses were the backbone of economy and there was a need for their promotion, the chief minister said the Punjab Investment Board would have to play an active role in providing better facilities to traders and businessmen. “Steps will have to be taken on permanent basis for promotion of investment in Punjab,” he added.
Sharif further said that sectors for investment should be identified for promotion of investment and the incentives should be given to investors. He directed that facilities should be provided on a priority basis to overseas Pakistanis for investment in Punjab and a close coordination be established for this purpose.
The chief minister said that there was also a need for capacity building of the Punjab Investment Board, and added that target should be set for promotion of investment and efforts should be made for their achievement. He said that decisions should be taken with regards to SMEs and promotion of the investment and their immediate implementation should be ensured.
The meeting was given a briefing by the Punjab Investment Board CEO on the role of Punjab Investment Board and measures for increasing the investment.
Provincial Ministers Dr Ayesha Ghous Pasha, Muhammad Shafiq, Khawaja Ahmad Hasaan, the additional chief secretary, Bank of Punjab president, secretaries and senior officials concerned attended the meeting while the Planning and Development chairman participated through video link.
Meanwhile, a delegation of Turkish investors met with CM Sharif and expressed interest in investment in manufacturing, paper industry and other sectors. Sharif told the delegates that the historical, brotherly and friendly relations between Pakistan and Turkey had turned into economic ties. He further said that Pakistan attached high importance to its relations with Turkey, adding that the investment by Turk investors’ group in Punjab would be welcomed and all-out facilities would be provided for this purpose.
The chief minister said that a number of Turk companies had made an investment of billions of rupees in the solid waste management, transport and other sectors in Punjab which was increasing with the passage of time.