Provincial Industries & Trade Minister Mian Aslam Iqbal presided over 107th meeting of Punjab Small Industries Corporation Board today. During PSIC meeting, approval for Punjab Small Industrial Estate Policy-2020, reorganization plan of Punjab Small Industries Corporation and establishment of small industrial estate comprising on 50 acre land was granted. Proposal to grant approval for setting up artisan village on two acre land for promoting local handicrafts at Taunsa Sharif also came under review during the meeting.
According to new policy of Punjab Small Industrial Estate, approval for selling of vacant plot was also granted. New buyer of the said plot cannot dispose of and after transferring of plot, the said buyer will be bound to start construction work within three months. After transferring of plot new buyer will be bound to complete the project within 15 months. Plot obtained for setting up industrial unit in industrial estate will not be allowed to use for any other purpose.
Those plot owners whose period of completion expired, they will be given 15 months for setting up unit. Those failing to establish units will be fined and allotment of plot will be cancelled in case of non-payment. Such a plot on which partial construction is done within specified period of time and has been cancelled, the allottee will submit an application to the committee which will decide it within 30 days. It has also been decided to abolish discretionary powers of officers along with waiving off fine in case of failing to set up unit.
The board also decided to abolish fee amounting to Rs 15000 received for occupation of plot. Two years term has also been fixed for setting up industrial unit on a plot obtained in new small industrial estate. Transfer letter of plot will be given in five days and in case of any failure, Regional Director will be held responsible.
Obtaining approval of board will be mandatory to set up new industrial estate across any place in the province.
Mian Aslam Iqbal further maintained that provision of facilities to the investors and industrialists is responsibility of the state and it will duly fulfill its responsibility.
PSIC will be made an institution for provision of facilities to the investors instead of earning profit. He further said that capacity-building of officers and officials will be enhanced through imparting training by restructuring PSIC and no official will be removed and his performance will be improved so that it can be utilized to the maximum. Aslam Iqbal directed that pace of work should be further escalated on the project of setting up industrial estate on Lahore-Sialkot Motorway. Secretary Industries & Trade, MD PSIC and concerned senior officials participated in the meeting.