Rs3.8b PSIC annual budget approved

LAHORE : Annual budget of Punjab Small Industries Corporation (PSIC) of Rs3.898 billion was approved along with the decision of setting up a regional office in Sahiwal Industrial Estate.

The approval was given in the 105th board meeting of the PSIC presided over by provincial minister for Industries, Trade and Commerce. Secretary Industries Tahir Khursheed, additional secretary, and board members attended the meeting.

The meeting expressed displeasure over the slow process of setting up industrial units in the industrial estates and questioned about the non-colonisation of the small industrial estate. The meeting inquired why implementation of law regarding the colonisation of small industrial estates has not been ensured yet. It was decided that it would not be allowed that the plots were occupied by unwilling people while the intending businessmen were waiting for the opportunity.

It was ordered taking necessary steps with accelerated speed for the colonisation of small industrial estates because industrial units should be set up on the land acquired for the purpose of trade and economic activities. A comprehensive policy should be submitted for the colonisation of all the industrial estates and complete roadmap should be developed before starting any new industrial estate. It should also be reviewed that which industry is required in any district and a comprehensive plan be submitted within the next few days.

Workshop: The government and Punjab Industrial Estates Development and Management Company (PIEDMC) are strictly following good governance principles like transparency, accountability, responsibility and fairness.

Addressing a workshop on corporate governance leadership skills programme PIEDMC Chairman Shoaib Zahid Malik said good governance always increased productivity and performance and the main objective of implementation of good governance was to optimise value and quality of products for stake holders in the long run. The agenda of the workshop was to further enhance corporate leadership by tackling financial challenges, enhancing continuous improvement in professional development and governance at PIEDMC. The members of company’s board of directors Yasir Bucha, Anees Khawaja, Ali Tariq, Shahid Tarer, Sajid Saleem Minhas, Schehram Sidiqi, Usman Khan and CEO Javed Ilyas attended the workshop.