LAHORE: Punjab Minister for Industry and Commerce Chaudhry Shafay Hussain approved a Rs570 million grant on Saturday to restore basic infrastructure at Sargodha Small Industrial Estate.
The minister approved the grant during a meeting with a delegation from the Sargodha Chamber of Commerce and Industry, according to a press release issued by the chamber.
SCCI President Khawaja Yasir Qayyum led the delegation. Former president Mirza Fazal-ur-Rehman and Board of Management Small Industrial Estate President Muhammad Iftikhar also attended.
The meeting reviewed development issues at the estate, which houses more than 100 industrial units, according to the SCCI statement.
Qayyum told the minister that poor drainage, damaged roads and water scarcity had weakened industrial activity at the estate.
He said the lack of basic facilities had discouraged investment and pushed some industrial units to operate as warehouses.
Chaudhry Shafay Hussain accepted the demand for immediate rehabilitation and said he would visit Sargodha to inaugurate development work.
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The minister also said the Punjab government and the Bank of Punjab would launch a Rs300 billion easy-loan scheme in October to support industrialisation.
Under the scheme, borrowers will get interest-free loans of up to Rs100 million. The programme will also offer loans of up to Rs1 billion at a three per cent markup and financing of up to Rs5 billion at a five per cent markup.
He said a job placement portal would be set up at the Punjab Board of Technical Education to connect skilled workers with industry.
The minister also asked the Sargodha and Multan chambers to jointly organise mango festivals in Spain and other European markets to promote Pakistani agricultural exports.
