Ch. Shafay chairs 129th PSIC Board meeting
Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain chaired the 129th meeting of the Board of Punjab Small Industries Corporation (PSIC) here at PSIC House on Tuesday.
The Board meeting discussed a 13-point agenda and approved in principle the schemes of Chief Minister Asan Karobar and Chief Minister Karobar Card.
Under these schemes, interest-free loans ranging from Rs. 500,000 to Rs. 30 million will be provided for businesses and the final approval of these schemes will be taken from the Punjab Cabinet.
The board approved the auction of 63 redundant properties in various small industrial estates and decided to give a final notice to the owners of 500 plots cancelled due to non-installation of industrial units in Punjab Small Industrial Estates.
The plots of the owners who did not respond in two months will be sold and after the auction of the cancelled plots, the money will be returned to the owners and a fine will also be collected as per the policy. The board has reduced the fee for changing the title, style and corporate setup of the business across Punjab from one percent to 0.5 percent.
The board also approved a strategy for full utilization of Artisan Village Kot Abdul Malik and Gandhara Art Village and sought the business plans of both the projects.
The board approved incentive allowance for PSIC employees of Scales 15 to 20. It should be noted that employees of Scales 1 to 15 are already getting dearness allowance.
The meeting also approved the increase in legal fees for the expediting of cases of Punjab Small Industries Corporation. The board also approved the increase in sewerage charges on dyeing and processing units in Faisalabad Small Industrial Estate. The board also ratified the minutes of the 128th meeting of the PSIC Board. The board meeting reviewed the performance of Punjab Small Industries Corporation and its future course of action.
Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain, while addressing the meeting, said that the process of colonization of industrial estates will be accelerated through the loaning schemes of Punjab Small Industries Corporation. If new factories are set up in Punjab, people will also get employment.
“My mission is to accelerate the process of industrialization in the province. I will not tolerate any obstacle in the process of industrialization,” he vowed.
The provincial minister directed that a final notice should be sent to those who have not yet installed water treatment plants in industrial units and full attention should be paid to tree plantation in small industrial estates.—APP
