LAHORE — The Punjab Small Industries Corporation (PSIC) is set to establish a new small industrial estate at Kot Pindi Das, Lahore, according to Managing Director Mubeen Elahi. The announcement was made during a meeting with the Lahore Chamber of Commerce and Industry (LCCI) on Thursday.
What Happened
In a meeting held at the PSIC office, Managing Director Mubeen Elahi revealed plans for the new industrial estate, which will span approximately 130 acres and feature 364 industrial plots. These plots will be allocated through a balloting process. The meeting was attended by LCCI President Faheem Ur Rehman Saigol, Senior Vice President Tanveer Ahmed Sheikh, Director Estates PSIC Sabeeh Raza, and other LCCI Executive Committee Members.
Elahi detailed the payment structure for the industrial plots, stating that entrepreneurs would need to pay 40 percent of the cost as a down payment. The remaining 60 percent would be payable in quarterly installments over two years. The estimated price for the plots has been set at Rs 5 million per kanal, inclusive of development charges. PSIC also plans to facilitate concessional financing for industrial investors.
LCCI President Faheem Ur Rehman Saigol highlighted the urgent need for the development of new industrial estates around Lahore. He emphasized that industries cannot be relocated unless fully developed and affordable industrial zones with modern infrastructure are made available. Saigol pointed out that recent enforcement actions by government agencies have created uncertainty among the business community.
Saigol noted that many industrial units in areas like Saggian, Daroghawala, and Multan Road have been operating for decades, contributing significantly to the economy. He stressed that industries should not be penalized without providing practical alternatives and urged the PSIC to expedite the development of new SME-focused industrial estates.
Background
The establishment of industrial estates is part of a broader strategy to promote small and medium enterprises (SMEs) in Pakistan. Historically, the lack of planned industrial zones has led to the haphazard growth of industries in urban areas, often resulting in environmental and regulatory challenges. Previous attempts to relocate industries have faced resistance due to inadequate infrastructure and planning.
The PSIC has been instrumental in developing industrial zones to support SMEs, which are a vital component of Pakistan’s economy. These efforts aim to provide businesses with the necessary infrastructure and support to thrive, thereby boosting economic growth and employment.
Why It Matters
The development of the Kot Pindi Das industrial estate is a significant step towards addressing the infrastructure needs of SMEs in Lahore. By providing a planned and affordable industrial zone, the PSIC aims to facilitate the relocation of industries from congested urban areas, thereby reducing environmental impact and regulatory issues.
This initiative is expected to have a positive economic impact by creating new business opportunities, generating employment, and increasing industrial output. The provision of concessional financing and modern infrastructure will enable SMEs to expand and compete more effectively in both domestic and international markets.
Moreover, the development aligns with the government’s broader industrial policy objectives, which include promoting sustainable urban development and enhancing the competitiveness of Pakistani industries. By addressing the concerns of the business community and providing practical solutions, the PSIC is fostering a more conducive environment for industrial growth.
Key Takeaways
- The PSIC plans to establish a new industrial estate at Kot Pindi Das, covering 130 acres with 364 plots.
- Entrepreneurs will pay 40 percent upfront, with the remainder in installments, at Rs 5 million per kanal.
- LCCI President emphasized the need for developed industrial zones to facilitate industry relocation.
- The initiative aims to support SMEs, create jobs, and boost economic growth in Lahore.
- PSIC’s efforts align with government policies for sustainable urban and industrial development.
Source Attribution
This article is based on official government statements, press releases, and public communications from relevant authorities.
