Friday, February 3, 2023
HomeGeneralPunjab government removes the need for a (NOC) for investment

Punjab government removes the need for a (NOC) for investment

LAHORE: According to Punjab Minister for Industries and Trade Mian Aslam Iqbal, the Punjab government has made real efforts to help companies and investors, as the state is the first to eliminate the no-objection certificate (NOC) required for investments.

The minister said at a news conference on Saturday that Punjab Chief Minister Sardar Usman Buzdar will launch an unique investor site named “Punjab Ease” at the Dubai Expo, which was created by the Punjab Board of Investment and Trade (PBIT).

He said the exhibition will include 20 ministries, including industry and commerce, energy, agriculture, and livestock, to highlight investment prospects in Punjab and promote the country’s soft image.

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“Punjab government is sending 25 talented youth registered under a new startup to Dubai Expo to share their ideas at the event,” he said, adding that seminars, panel discussions, business forums, international business conferences and other events would also be organised at the expo.

He voiced hope that the event would bring new investment to the province.

The minister emphasised that support was being provided to export-oriented small and medium enterprises (SMEs) and investor-friendly policies of the government were bearing fruit.

Special Economic Zones and industrial estates of Punjab had secured billions of rupees in investment, he said.

Responding to a question about fuel prices, the minister said that the hike in global crude oil prices had also affected Pakistan.

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The government had increased the support price for wheat, which helped farmers to the tune of Rs1,100 billion, the minister pointed out, adding that the government was also launching a targeted subsidy programme to benefit the masses.

“The price of a 20kg flour bag in Punjab is Rs1,100, while in Sindh it is Rs1,600,” he said and highlighted that sugar prices were also going down in Punjab owing to its imports.

“Economic activities have always a trickle down effect,” the minister remarked.

Special Assistant to Punjab Chief Minister on Information Hasaan Khawar, Punjab Industry and Commerce Secretary Wasif Khurshid, PBIT CEO Erfa Iqbal and Director General Public Relations (DGPR) Saman Rai were also present on the occasion.



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