Punjab approves Rs1.995tr industrial growth plan

Summary

• The provincial cabinet approved subsidies for a new phase of the Chief Minister Punjab Green Tractor Programme.
• The cabinet also approved a waiver of late registration fees and subsidies for the fourth phase of the low-powered Green Tractor Programme.
• The cabinet approved Rs60 billion for the Apni Chhat, Apna Ghar housing loan programme.

AI Generated Summary

The Punjab government has approved an industrial development and export promotion programme worth Rs1.995 trillion, with plans to create more than 162,000 jobs and strengthen the province’s industrial and agricultural sectors.

The programme was presented by Senior Minister Marriyum Aurangzeb during a cabinet meeting chaired by Chief Minister Maryam Nawaz Sharif on Monday. It envisages Rs1.089 trillion in investment from the provincial government and Rs906 billion from the private sector.

The initiative focuses on improving industrial infrastructure, developing specialised industrial clusters, increasing export competitiveness and modernising value chains. It also aims to promote agricultural and livestock mechanisation, encourage public-private partnerships and support existing industries.

The plan includes measures to expand e-business, e-commerce, garment manufacturing and ready-to-use industrial facilities. Testing and certification services will be strengthened for leather, footwear and sports goods. Material-testing laboratories will also be established for the cutlery, handmade tools, ceramics and fan industries.