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Transforming Punjab into Investment Hub

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The Provincial Minister for Commerce and Industries, stated that the government is transforming Punjab into a hub of investment. In just three years, the government has established 23 small industrial estate. Punjab has 13 new special economic zones. By collaborating with ConnectorPk, a real estate agency in Islamabad, you will have the opportunity to invest in the best property companies and meet the best property agents in Islamabad.

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He addressed this in 35th Annual General Meeting of the Pakistan Textile Exporters Association. He stated that local and foreign investors are investing in Punjab because of the investor-friendly environment. The increased investment in the country demonstrates confidence in Prime Minister Imran Khan’s economic policies.

He stated that the establishment of new industrial zones would usher in a new era of industrial development in Punjab. Also, Punjab Board of Investment would make every effort to promote investment in the province and provide investor facilities. According to PM Imran Khan’s vision, the Punjab government is committed to assisting industrialists and investors in improving economic activities.

He stated that Faisalabad is central hub of textile sector, with a large share of exports of various textile products. The country’s largest expo center will be established in Faisalabad. The government is adamant that an economic revolution can only be achieved through trade promotion. All possible assistance is being provided to the export sector in order to achieve maximum growth. The textile industry is the backbone of the economy.

The government implemented a number of measures, including easy financing for wage payments and the liquidation of outstanding refunds. He stated that no country could achieve its economic goals without the proper role of exporters. Pakistan’s future is bright. All resources will be mobilized to transform the country into the Premier’s vision of an economically stable and strong Pakistan.

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Country Director of International Labor Organization , state: Better Work Programmed will improve Pakistan’s compliance and commitment to improving labor welfare. The BWP included a comprehensive framework for improving industrial relations through training and compliance. With international labor standards, such as occupational safety and health, employment nature, strengthening employers’ and workers’ unions in the textile industry, she stated. She added that ILO and IFC are successfully running this program in eight countries. It has been benefiting a workforce of 2.5 million through 1,700 factories and 150 international brands.

Presenting his annual report, PTEA Chairman stated that, despite the turbulent economic environment and challenges posed by Covid-19. The Association continued its efforts to put the business on the path of economic diversification by enhancing its value proposition. This year, we envisioned pursuing pro-business reforms in order to create a favorable environment conducive to boost productivity.

To accomplish this, we collaborated closely with the government and all relevant flora to create mutual grounds for the advancement of the textile industry in general and textile exporters in particular. Some of these initiatives included the development of ease-of-doing-business proposals, cost-cutting measures in the manufacturing sector, structural tax reforms, and the availability of energy inputs at regionally competitive prices. He expressed his hope that the new team will continue to work to strengthen ties with local and international businesses in order to promote and protect the interests of the textile industry.

Sohail Pasha, the newly elected Chairman of the PTEA, stated that rising business costs have not only stifled new investment in the textile industry, but have also hampered export growth. The government should devise a comprehensive strategy to address the issue in order to accelerate industrial growth while also protecting the livelihoods of millions of workers. Pakistani exports are under pressure due to the country’s current economic, financial, and industrial crisis, as well as persistently high production costs, which are negatively impacting industrial and trade activities and productivity output. He praised the outgoing team’s successful efforts in resolving the issues confronting exports.

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