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LAHORE, May 29 (APP): Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain inaugurated the three-day 20th Plastic and Packaging Industry Exhibition here at Expo Center on Thursday.
The provincial minister took a round of the stalls there, while representatives of more than 200 companies associated with the plastic and packaging industry from 30 countries participated in the exhibition.
Talking to media on this occasion, the Provincial Minister said that a new policy is being introduced to reduce prices of plots in industrial estates so as to promote industrialization. The policy will come into effect after the approval of Punjab Chief Minister.
He said, the land mafia doing property business in industrial estates has been eliminated. Now, the plot of those who do not set up a factory in the industrial estate within two years will be canceled.
Chaudhry Shafay said that during his recent visit to China, agreements have been signed with major groups for investment in Punjab. China’s Vivo Mobile Company is setting up its plant in Faisalabad Industrial Estate and start production in the next one and a half years.
He resolved to bring new investment to Punjab, asserting that new factories would create new employment opportunities. He said, tree plantation is essential to cope with adverse effects of climate change.
He said that promotion of electric vehicles is also among government priorities, and efforts are being made to set up electric vehicle manufacturing plants in Punjab where foreign companies are prioritizing to invest. A Chinese company will set up a lithium battery factory in Punjab while a number of foreign companies of packaging industry want to invest in Punjab.
Provincial Minister congratulated the organizers of the exhibition. The minister distributed shields among the organizers and industrialists. President of the Lahore Chamber of Commerce and Industry Abuzar Shad, Regional Chairman of the Federation of Pakistan Chambers of Commerce and Industry, MD Pegasus Amir Khanzada and a large number of industrialists were present at the exhibition. Head of the Punjab China Desk of CM Jalal Hassan Khan was also present.