Punjab CM unveils reforms to boost investment, modernise industries

Punjab Chief Minister Maryam Nawaz Sharif outlined reforms at the launch of the Punjab Innovation, Entrepreneurship and Technology initiative, linking industrial growth to digital services, workforce training and easier business financing. She said the province had issued about Rs200 billion in Asaan Karobar Scheme loans, while more than 200,000 people secured approvals through the e-Biz platform. Training has reached 400,000 workers, with another 600,000 planned, she said.

The government also plans to lease land for industrial use at monthly rates of Rs80,000 to Rs200,000 and expand local testing and certification facilities, which manufacturers currently lack for products including fans and sports goods. Maryam said Punjab would distribute 45,000 tractors this year, compared with 3,000 over the previous two decades, and would focus on widening the tax base rather than adding taxes. She also reported that provincial revenue had risen from Rs200 billion to Rs1 trillion.