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Pakistan’s Punjab province to offer incentives to garment investors

Punjab’s chief minister Muhammad Shahbaz Sharif has announced special incentives for local and foreign investors in the garments industrial zone. Issuing instructions for setting up a committee for identifying the site for the establishment of Punjab China Industrial Zone, the CM has directed that the committee should present its report within seven days after consulting all stakeholders so that the project could be initiated without any delay. The committee will comprise senior member board of revenue, secretary industries and representatives of Punjab Industrial Estate Development and Management Company.

Prominent industrialists associated with the garments sector applauded Sharif’s steps taken for the development of garments industry and said that due to the personal interest taken by the chief minister not only garments industry would make rapid progress but huge foreign exchange would also be earned. 

The chief minister said that setting up of Punjab China Garments Industrial Zone on a large piece of land near motorway should be considered while other locations for this purpose should also be identified and a report be submitted within seven days. The minister also issued instructions for constituting a working group to remove hurdles in the establishment of the industrial zone and directed that the working group should immediately formulate its recommendations so that the concerned institutions could be contacted for removing impediments.  He said that working group should meet on weekly basis and propose steps expeditiously in this regard.