LAHORE: Punjab Board of Investment and Trade (PBIT) Chairman Abdul Basit has said that the manufacturing activities are increasing in the provinces as number of plots in developed industrial estates is also surging rapidly.
In a statement, Abdul Basit said that Punjab has removed most of the hurdles being faced by the investors. Industrial power, he said, is now available 24/7 at reasonable rates. The footprint of RLNG is being increased for the entire manufacturing sector for power generation, he said, adding that the infrastructure in all industrial estates of the province has been upgraded.
The China-Pakistan Economic Corridor (CPEC) has attracted more investors from developed economies than China. The Chinese, he said, are more visible in the infrastructure projects.
PBIT has succeeded in attracting investments in diversified fields, he said, adding that the textile sector is being fully facilitated, but other manufacturing sectors such as engineering and mining are now given equal importance.
PBIT is working on an investment strategy that would ensure zero unemployment in the province by the end of 2018, Basit said, adding that besides skill development, the manufacturers are being persuaded to arrange regular refresher courses for their employees to keep them update with the new global developments. Basit said in order to provide better returns to the farmers, PBIT is encouraging the establishment of agro-based industries.