SARGODHA – Punjab Minister for Industry and Commerce Chaudhry Shafay Hussain on Saturday approved a Rs570 million grant for the restoration of basic infrastructure at the Sargodha Small Industrial Estate during a meeting with a delegation of the Sargodha Chamber of Commerce and Industry (SCCI).
According to a press release issued by SCCI, the delegation was led by President Khawaja Yasir Qayyum and included former president Mirza Fazal-ur-Rehman and Board of Management Small Industrial Estate President Muhammad Iftikhar.
The meeting discussed issues related to the sustainable development of local industry and challenges being faced by the small industrial estate, which houses over 100 industrial units.
Briefing the minister, SCCI President Khawaja Yasir Qayyum said the estate was in a deteriorated condition due to lack of basic facilities, including poor drainage, damaged roads and water scarcity, which had discouraged investment and led to the conversion of industrial units into warehouses.
Accepting the demand for immediate rehabilitation, Chaudhry Shafay Hussain approved the Rs570 million grant and assured that he would soon visit Sargodha to inaugurate development work. The minister also announced that the Punjab government, in collaboration with the Bank of Punjab (BoP), would launch a Rs300 billion easy-loan scheme in October to boost industrialization.
The scheme will include interest-free loans of up to Rs100 million, 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 further said a job placement portal would be established at the Punjab Board of Technical Education (PBTE) to link skilled labor with industry, adding that Sargodha and Multan chambers should jointly organize mango festivals in Spain and other European countries to promote Pakistani agricultural exports.
