Punjab Minister for Industry and Commerce Chaudhry Shafay Hussain has approved a grant of Rs570 million for the restoration of basic infrastructure at the Sargodha Small Industrial Estate. The decision was made during a meeting with a delegation from the Sargodha Chamber of Commerce and Industry (SCCI) on Saturday.
Delegation Highlights Deteriorated Conditions
The delegation was led by SCCI President Khawaja Yasir Qayyum and included former president Mirza Fazal-ur-Rehman and Board of Management Small Industrial Estate President Muhammad Iftikhar. According to a press release issued by SCCI, the estate houses over 100 industrial units but has suffered from a lack of basic facilities, including poor drainage, damaged roads, and water scarcity. These issues have discouraged investment and led to the conversion of industrial units into warehouses.
Minister Approves Immediate Rehabilitation
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. He emphasized the government's commitment to supporting local industry.
Rs300 Billion Easy-Loan Scheme Announced
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 includes 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.
Job Placement Portal and Mango Festivals
Chaudhry Shafay Hussain further stated that a job placement portal would be established at the Punjab Board of Technical Education (PBTE) to link skilled labor with industry. He also suggested that the Sargodha and Multan chambers should jointly organize mango festivals in Spain and other European countries to promote Pakistani agricultural exports.
