The Punjab Small Industries Corporation has approved a major initiative of industrial plots sale, aimed at boosting industrial growth and attracting investors across Punjab. Officials announced the decision during a high-level meeting chaired by the provincial Minister for Industries and Commerce in Lahore.
The meeting took place at PIESC House and focused on improving industrial infrastructure, increasing financial stability, and creating fresh business opportunities. Moreover, officials reviewed several development projects linked to Small Industrial Estates across the province.
During the session, authorities approved the sale of 403 additional plots identified during surveys conducted in 20 Small Industrial Estates. According to officials, the sale could generate nearly Rs11.22 billion in revenue.
Officials said the expected income from the industrial plots sale will strengthen the corporation’s financial position. In addition, the funds will support new industrial projects and improve facilities in different industrial zones.
Managing Director PIESC, Mubeen Elahi, briefed the board on various agenda items. He also shared updates regarding ongoing development projects and financial planning strategies.
The board further approved the repayment of a government loan worth Rs1.3 billion. Therefore, officials believe the corporation will gain greater financial flexibility for future industrial expansion.
At the same time, authorities approved the auction schedule for PIESC-owned inactive and unused properties. Officials want to utilize idle assets more effectively and create additional business activity through transparent processes.
Meanwhile, the board also approved the revised PC-1 for the Small Industrial Estate in Mandi Bahauddin. Furthermore, officials reviewed progress on establishing the Small Industrial Estate in Qaidabad.
The meeting also approved the corporation’s financial advisory services. Under this plan, PIESC will appoint a financial advisor to improve planning and ensure better industrial plots sale.
In addition, officials discussed proposed amendments to the Punjab Small Industries Corporation Act 1973. Authorities said the changes could expand the institution’s role and create stronger investment opportunities in the province.
The board also decided to form a special monitoring committee for development work in 23 Small Industrial Estates. The committee will supervise infrastructure projects and ensure the timely completion of ongoing work.
Officials believe the latest industrial plots sale decision will encourage industrial investment and strengthen economic activity across Punjab. As a result, investors may receive more opportunities to establish businesses in organized industrial areas throughout the province.
