PBIT Unveils Strategic Projects to Bolster Investment in Punjab

Lahore: The Punjab Board of Investment and Trade (PBIT) is prioritizing the introduction of concrete and investment-ready projects to attract investors, the board’s chairman. In a recent meeting with the Lahore Chamber of Commerce and Industry, Ashraf emphasized the board’s commitment to moving beyond mere documentation, aiming to facilitate potential investors with robust projects.

According to Lahore Chamber of Commerce and Industry, Chairman Ashraf indicated that PBIT has identified ten sectors with significant investment potential, particularly highlighting shrimp farming for its promising export opportunities. Additionally, a new data repository is under development to enhance access to crucial information and streamline the investment process. The Business Facilitation Center, offering services from 35 federal and provincial departments, aims to support businesses more effectively. PBIT is also actively pursuing the relocation of Chinese industries to Pakistan and intends to collaborate with LCCI on this initiative.

LCCI President Mian Abuzar Shad underscored PBIT’s vital role in Punjab’s economic growth, noting that the province contributes 55% to Pakistan’s GDP and employs 38 million people. However, he raised concerns about the low foreign direct investment, currently at $2.3 billion, and urged efforts to unlock potential in sectors such as engineering, pharmaceuticals, agriculture, and information technology. Senior Vice President Engineer Khalid Usman stressed the need for eco-friendly and cost-effective technologies, particularly for small and medium-sized enterprises, while advocating for the expansion of certification labs. Vice President Shahid Nazir proposed organizing international conferences and roadshows to boost investor engagement.

President Shad also highlighted challenges including water scarcity, shrinking agricultural land, and revenue shortfalls, proposing the inclusion of LCCI representatives in government boards. He revealed plans for LCCI to launch a dedicated airline to support the business community.

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