The 140th meeting of the Board of Directors of the Punjab Small Industries Corporation (PSIC) was held under the chairmanship of Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain. The meeting, held at PSIC House, considered a 15-point agenda. Managing Director PSIC Mubeen Elahi gave a detailed briefing on the agenda items. The Board approved the Punjab Small Industries Corporation Sale and Disposal of Immovable Properties Rules 2026. The rules will now be submitted to the Punjab Cabinet for final approval. The Board also approved the auction schedule and reserve prices for redundant properties and plots located inside and outside PSIC small industrial estates. The proposed revised security charges for allottees of small industrial estates were also approved, with reductions of up to 75 per cent.
Amendments to the features of the interest-free loan scheme for artisans of Punjab were approved to promote cottage industries. Under the revised scheme, a five per cent quota has been allocated for transgender and differently-abled artisans. The Board further approved the hiring of an online marketing consultancy firm to promote handicrafts and the engagement of an Advocate of the Supreme Court of Pakistan as a legal expert for the PSIC Board. The upgradation of the Metal Craft Artisan Village at Kot Abdul Malik was also approved.
A daily allowance of up to Rs. 50,000 for private members of the Board for performing duties assigned by the Board was also approved. Various other financial and administrative matters of the Punjab Small Industries Corporation were considered and approved.
The meeting also reviewed the lease model for Small Industrial Estate Quaidabad, a proposal for establishing a new industrial estate over 300 acres at Kot Pindi Das, and progress on PSIC’s resource-generation initiatives.
Addressing the meeting, Provincial Minister Chaudhry Shafay Hussain said that 100 percent colonization of industrial estates was a top priority of the Punjab Government, major initiatives had been launched to promote industrial, commercial and economic activities, boost exports and accelerate industrial development across the province.He said that under the second phase of the Chief Minister’s Asaan Karobar Finance Scheme, interest-free loans of up to Rs. 30 million were being provided. Under the Industrial Development Programme, easy loans of up to Rs. 5 billion were available, while loans of up to Rs. 100 million were interest-free.
The provincial minister added that large-scale industries could also obtain easy loans of up to Rs. 1 billion through the Bank of Punjab under this program.
Chaudhry Shafay Hussain said that the Chief Minister Punjab had approved the establishment of four agro-processing parks. He directed PSIC to complete the identification of suitable land for these parks in coordination with the relevant departments at the earliest. He also directed PSIC’s regional directors to move beyond office-based work and actively engage in field activities. He said that a comprehensive development programme for 23 small industrial estates across Punjab was progressing rapidly. The minister said new industrial estates were also being established in response to industrial requirements and the demands of the business community. An industrial park was also being developed in Gujranwala.
