Provincial Minister for Industries Chaudhry Shafay Hussain states Punjab has been transformed into a centre of business activities
By Commerce Reporter
LAHORE: The 47th meeting of the Punjab Board of Investment and Trade (PBIT) was attended by Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain, Chairperson PBIT Muntaha Ashraf, and others including Mian Abuzar Shad, President of the Lahore Chamber of Commerce and Industry (LCCI).
Held in the PBIT committee room, the meeting discussed a six-point agenda. The Secretary for Industries and Commerce, Dr. Ehsan Bhutta, along with other board directors, were also present on the session. CEO PBIT, Jalal Hassan, gave a detailed briefing on the board’s performance, operations, and the strategic plan for the upcoming six months.
In the meeting, the formations of seven committees, including the Audit Committee, Risk Management Committee, and Human Resource Committee, were approved. The committee for hiring the PBIT CEO and related matters will finalize its recommendations within next two weeks. The board also gave approval of the minutes of its 46th meeting.
Addressing the meeting, LCCI President Mian Abuzar Shad, speaking at the meeting, underscored the pivotal role of the Lahore Chamber of Commerce and Industry in bridging the gap between the business community and government institutions. Highlighting the significance of PBIT’s initiatives, he reaffirmed LCCI’s commitment to supporting investment-friendly policies and facilitating trade to foster sustainable economic growth in the province.
Provincial Minister for Industries Chaudhry Shafay Hussain stated that Punjab has been transformed into a centre of business activities. He stressed the vast investment opportunities available in Punjab’s 18 Special Economic Zones (SEZs), with seven new SEZs under development.
The minister said that business facilitation centers are playing a crucial role in promoting economic activities, with four more centers being established. He emphasized that the Punjab Chambers of Commerce and Coordination Committee provides a platform to resolve industrialists’ issues promptly.
Chaudhry Shafay Hussain also announced that a program is underway to shift industrial estates to solar energy and stressed the need for practical steps to promote bilateral trade with foreign countries.
Chairperson PBIT Muntaha Ashraf said the Punjab Board of Investment and Trade was actively facilitating investment and supporting industrialists. The board has successfully facilitated investments worth $6.9 billion so far. She shared that 27,000 No Objection Certificates (NOCs) have been issued for various business activities through the business facilitation centers.
Madam Rabia Zia, Masood Anwar, and Abid Shirani also participated in the meeting via video link.
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