Punjab prepares Rs1.22t plan for economic development

LAHORE, Mar 14 (APP): The Punjab government has prepared a comprehensive plan of Rs 1.22 trillion for the economic development and revival of the province.
Official sources say that economic experts and finance department officials have submitted a report on the plan to the government, which includes a proposal for major structural changes in the province’s growth model.
According to the plan, Rs 20 billion has been proposed for the establishment of industrial super clusters to promote the industrial sector, Rs 25 billion for industrial development projects in South Punjab, while a plan to upgrade existing industrial clusters on an export basis is also included.
According to the sources, the plan proposes to allocate Rs.25 billion for increasing agricultural production, even for the promotion of smart farming. Rs 10 billion for human resource and skills development programs, while Rs 10 billion has also been invested in the promotion of public-private partnership models.
Under digital infrastructure, Rs 30 billion has been proposed for the establishment of data centers and IT facilities in Punjab. An investment of Rs 30 billion has also been proposed for reforms in the electricity and power sector.
The proposal includes Rs.20 billion for the establishment of agri-processing industry, Rs 300 billion for the Punjab Infrastructure and Guarantee Fund, and Rs 700 billion for long-term investment and special savings.
The aim of this project is to ensure development in the sectors of industry, agriculture, infrastructure, digital technology and human resources in the province and to make Punjab economically stable and developed.