LCCI presses for sector-specific industrial parks as improvement price range rises to Rs1.24tr
The export-oriented industries. Photograph: file
LAHORE:
The Punjab authorities is engaged on pilot programmes to help small and medium enterprises (SMEs) and export-oriented industries, with preparations below means for the following annual improvement plan, Secretary Planning & Growth Board Punjab Rafaqat Ali mentioned on Wednesday.
Talking at a gathering held on the Lahore Chamber of Commerce and Business (LCCI), Ali mentioned the federal government was engaged on a number of pilot programmes to help small and medium enterprises (SMEs) and export-oriented industries. In line with a press release, he mentioned that below the Asaan Karobar Scheme, industries have been being offered interest-free monetary help for export-related worth addition, including that there was consideration to additional develop the programme.
LCCI President Faheemur Rehman Saigol welcomed the secretary, whereas Vice President Khurram Lodhi and Government Committee members Rana Shouban Akhtar and Irfan Qureshi have been additionally current.
In his tackle, Saigol mentioned Pakistan’s financial system was roughly $400 billion in measurement, with Punjab contributing greater than 55% to the nationwide GDP. He mentioned strengthening Punjab’s industrial base was subsequently important for sustainable financial development. He welcomed the provincial authorities’s determination to extend the event price range for fiscal 12 months 2025-26 from Rs842 billion to Rs1,240 billion, saying the upper allocation would assist increase financial exercise.
He emphasised that improvement planning ought to be business-friendly in order that funding, manufacturing and exports might develop concurrently. He mentioned Punjab had sturdy potential in value-added manufacturing, engineering items, processed meals, prescription drugs, mild engineering and IT companies, however added that internationally normal testing and certification laboratories have been obligatory to totally realise this potential.
The LCCI president additionally proposed the institution of sector-specific industrial parks and particular financial zones for SMEs, the place land may very well be offered on long-term leases at concessional charges. He mentioned SMEs contributed about 40% to GDP and 25% to exports, and that targeted consideration on the sector might considerably enhance employment and export earnings.
He additional steered that, given the nation’s giant youth inhabitants, fashionable talent improvement centres ought to be arrange below public-private partnerships to supply coaching aligned with international market wants. He added that selling digitalisation, know-how parks, startup help, e-commerce and synthetic intelligence was additionally necessary.
Saigol pressured that industries ought to be supported by inexperienced financing to undertake environmentally pleasant applied sciences and energy-efficient tools. He additionally known as for increasing public-private partnerships in improvement initiatives and mentioned the Lahore Chamber was prepared to totally cooperate with the federal government in a constructive partnership.
The planning secretary mentioned the federal government was giving particular consideration to youth talent improvement and had made giant investments on this space below the present improvement programme, notably in nursing, well being and e-commerce sectors. He mentioned programmes had been launched to strengthen linkages between trade and academic establishments, below which industries educated employees themselves and later offered them employment.
Ali added that preparations for the following annual improvement plan have been starting and urged industrialists to submit their proposals so that they may very well be integrated into policymaking. He mentioned solely shut cooperation between trade and authorities might assist strengthen the financial system and create new job alternatives.
