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LAHORE, Oct 02 (APP):The Board of Punjab Small Industries Corporation (PSIC) decided to constitute a committee to review the canceled plots in Small Industrial Estates.
This was decided in the 132nd meeting of the Board of Punjab Small Industries Corporation (PSIC) held under the chairmanship of Provincial Minister for Industries & Commerce, Chaudhry Shafay Hussain, at PSIC House.
The meeting also considered an 8-point agenda. Managing Director PSIC, Ms. Saira Umar, gave a detailed briefing on the agenda items.
The Board decided to constitute a committee regarding cancelled plots in small industrial estates. The committee will present its recommendations within two weeks. The Board approved the PSIC Estate Development & Management Rules 2025, marking a significant milestone in the institution’s history, expected to bring transparency and improved facilities. The Board also approved electricity supply in Small Industrial Estate No. 4 Gujranwala, and withdrawal of cancellation letters issued for plots in Small Industrial Estates Nos. 2 and 3 Sambrial. Approval was also granted for the PSIC Medical Policy 2023, PSIC Internship Program, and amendments in the revised schedule of PSIC financial powers.
The Board approved a 100% special allowance on the basic pay of PSIC employees. With this new allowance, the previously existing disparity, special, and inflation allowances will be discontinued. The Board also endorsed the strategy finalized between Punjab Small Industries Corporation and Akhuwat Organization regarding the Chief Minister’s Self-Employment Scheme. Administrative and other corporate matters of PSIC were also addressed.
Addressing the meeting, Provincial Minister Chaudhry Shafay Hussain said that the 23 Small Industrial Estates in Punjab are playing a pivotal role in promoting economic activity. He emphasized that 100% colonization of these industrial estates is a top priority of the government. Accelerating industrialization to create new jobs is part of the government’s core agenda. He further added that a comprehensive program is being launched to upgrade infrastructure in the small industrial estates, including improvements in cleanliness, security, road infrastructure, and other facilities. Extensive tree plantation drives will also be carried out in these estates.
The Minister informed that the second phase of the Chief Minister’s Asan Karobar Finance Scheme has been launched. Under this scheme, Rs. 90 billion worth of interest-free loans are being distributed through the Bank of Punjab. Initiated under the direction of the Chief Minister, this scheme has proven highly effective in promoting business activities across Punjab.
The meeting was attended by Secretary Industries & Commerce Umar Masood, MD PSIC Saira Umar, and members of the Board.