Shahbaz govt’s polices make Punjab attractive investment destination

 
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Lahore, Sept. 13 (TNS): Development of Industries is one of the major goals of Shahbaz Sharif led Punjab government to bring prosperity in the province by boosting trade and investment.The Government of the Punjab is keen on creating a business-friendly investment climate in line with the Federal Government Policies and present the Province of Punjab as an attractive investment destination for the entrepreneurs / investors.Encourage & Promote Industry including Cottage Industry for sustainable growth, credit facilitation including Micro Financing, facilitation in Trade and Business, availability of Skilled Manpower, Consumer Protection and co-ordination in Price control.The mission is to create prosperity by strengthening the competitiveness of Punjab business environment, promoting trade by all means including competitive and efficient export supply chain and investment climate that helps develop the private sector, and addressing issues related to fair trade and compliance with international trade regime.

Objectives

  • Promotion of Industry & Investment in the Province
  • Advocacy and Implementation of Trade & Investment Policies of the Federal/ Provincial Governments
  • Liaison with Private Sector, Trade Bodies and Trade Associations
  • Creation of awareness about WTO related trade laws & standards
  • Improve Product Competitiveness and Export Supply Chains
  • Conduct research and provide Technical Expertise to Private SectorOngoing Schemes
  • Scheme for Design, Value Addition and Product Development of Stone Crafts at Taxila. Aiming to revive and patronize the dying Crafts specially Black Stone Products, Taxila
  • Customized Lending for Metal Works Artisans at Kot Abdul Malik
  • Census & Survey of Small & Cottage Industry of Punjab
  • Empowerment of Female Artisans of Tribal Areas of DGK, & Rajanpur (Taunsa Sharif, Fort Minro and Rojhan)
  • Empowerment the Artisans of Bahawal Nagar & Cholistan through Dev. of Crafts and Enterprenurial Skills
  • Provision of Missing Facilities in SIE-I, Sialkot, SIE-I & II Gujranwala, and SIE Daska
  • Registration of Geographical indications New Schemes
  • Up-gradation / provision of missing facilities of force main pipeline from SIE Khanewal to TMA Disposal Station Khanewa
  • Research and Publications of Books on Craft & Life of Craftsmen/artisans of 5 districts of Punjab  (Lahore Vol-II, Sheikupura, Gujranwala, Gujrat & Chakwal)
  • Establishment of Retail Pak Cum outlets for local Handicrafts on main highways in Punjab
  • Up gradation of Printing Facilities at Govt. Printing Press Lahore and Bahawalpur
  • Construction of premises for District Consumer Protection Council /  District Consumer Court, Bahawalpur• Establishment of Industrial Estate / City
  • Establishment of Retail Park Cum Outlets for  Local Handicrafts on Main Highways in Punjab

Government of Punjab has established Faisalabad Industrial Estate Development and Management Company (FIEDMC).

Faisalabad Industrial Estate Development & Management Company (FIEDMC) has been established on the basis of Public Private Partnership to achieve orderly & planned industrialization according to the needs of present era & providing all essential modern structure to step in the world market along with sustained development & environment friendly projects.FIEDMC was formally registered under company’s ordinance 1984 with aim to promote economic development of Pakistan through the establishment of industrial estates, it serves as a key Government entity in developing and diversifying economy of Pakistan through the creation of specialized industrial zones.Punjab government also focusing on Small Industries as sustainable growth of small, creative and cultural industries now and for future socio-economic development. To patronize the small, creative and cultural industries by providing access to developed infrastructure, capital advisory services, marketing channels and common facilities.The Punjab Board of Investment and Trade (PBIT) has launched several initiatives in keeping with its task of promoting investment in Punjab. In order to better facilitate investors from various countries, PBIT has established specialized cells.  The Turkey Cell was initiated due to the tremendous growth in trade ties between Pakistan and Turkey, two brotherly countries.The GSP+ Cell was established for the purpose of overseeing the task of meeting GSP+ guidelines, which will boost trade with the European Union and strengthen the economy of Punjab as well as the nation as a whole.

The Pakistan-China Bureau also plays a key role in facilitating trade with China, a major ally and trade partner of Pakistan.Province of Punjab is an important stakeholder with more than 60% share in the national exports significantly impacting the provincial economy and compelling it to address the related concerns such as productivity enhancement, modernization of productive processes, procurement policies competition laws standardization of products and services, business related regulatory framework, data collection and collation for informed planning and decision making for investment and trade promotion. Export Supply Management issues are reckoned to be effectively dealt with provincial government as recently realized and discussed with the Export Promotion Bureau resulting in a draft cooperation framework between the Punjab Government and EPB. the information of obliged issues are taking place under the treeThe province needs to build synergies with all stakeholders and play a pivotal role in implementation of policies that might generate even from the Feral Level such as labour regulations, environment standards, quality control, industrial and trade policies requiring part performance from provincial of manpower, procurement policies, health standards, etc, that now need to be addressed within an overall framework of WTO regime.The WTO trade laws/ regulatory regime application is progressively becoming all pervasive in every possible sphere of business activity. As already stated, the provincial government is an important stakeholder and has to work harder for meeting new challenges faced by it in the highly competitive business environment both within national as well as international business arena. The Punjab has to strategically position itself to confront the challenges and opportunities thrown by the new trade regime and demands for creating an investment climate conducive to doing better  business and attracting FDIs into the Province. It, being the biggest contributor in the century’s international trade, needs to exploit its comparative and competitive potential for further enhancement of its share in trade in quantitative and qualitative terms. It, therefore, needs to proactively contribute to the policy making even at Federal level and follow up implementation to gainfully benefit from the policy panacca and efficient implementation.The Government plans to launch joint ventures under Public & private Partnership, committing huge public assets and monetary resources for equity partnership that is looked at as an attractive model of investment. This necessitates competent handling of such proposals with professional touch. This project fits into the overall policy framework of Development Plan, Vision 2020 statement made by the Chief Minister encompassing the objectives of institutional capacity building.Enlisted below are the major functions of Commence and Investment wing:

  • Punjab Chambers of Commerce & Industry (To resolve the issues of all Chambers of Commerce & Industry in Punjab)
  • Facilitation and Coordination with Trade Organizations & Associations (e.g. PTEA, APTMA, etc)
  • Arrangements of meeting of Chambers / Associations delegations Chief Minister with various stakeholders
  • Plan to improve Business Climate in Punjab (Ease of Doing Business)
  • Matters relating to Domestic Commerce• Matters relating Board of Investment (BOI) Islamabad
  • Investment Proposals of Individuals
  • Matters of Punjab Board of Investment & Trade (PBIT)
  • Comments on Bilateral Investment Treaties (BIT) with various countries
  • Formulation of Investment Policy
  • Matters / Issues of Foreign Direct Investment in Pakistan
  • Special Export Processing Zones
  • Others (PM / CM Directives on any issue relating to investment) Following are the prime functions of the Senior Economic Advisor Wing:
  • Matters relating to Annual Development Programme ADP.
  • Establishment of Industrial Estates in Punjab through PSIC, PIEDMC & FIEDMC.
  • Micro Financing through Chief Minister’s Self Employment Scheme
  • Punjab Job & Competitiveness Mission
  • Matters relating to Skill Strategy.
  • Matters relating to PSDF, National Textile University and Expo Lahore
  • All grievance, petition and complaints relating to Industrial Sector.
  • Survey/Collection of and dissemination of information regarding Industrial Sector.
  • Implementation of laws / rules pertaining to Sugar Mills Policy.
  • Policies pertaining to Declaration of Negative Areas for Industries by the District Government / Industrial Location Policy.
  • Issues related to Boiler & Envoirment Protection
  • Matters pertaining to Quaid-e-Azam Apparel Park (QAAP)