Minister Shafay Chairs PSIC Board Meeting
UrduPoint
Published: September 18, 2026 | Time: 09:20 PM
LAHORE, (APP - UrduPoint / Pakistan Point News - 18th Sep, 2026) Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain chaired the 138th meeting of the board of Directors of the Punjab Small Industries Corporation (PSIC) here at PSIC House on Friday.
The meeting discussed a five-point agenda:
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Industrial Development and Export Programme: PSIC Managing Director Mubeen Elahi presented a detailed briefing. The Board approved implementing this programme through the Punjab Industries, Commerce and Investment Department, with easy loans of up to Rs. 5 billion for small and large industries under a Rs. 300 billion Annual Development Programme scheme.
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Amendments to PSIC Act: The Board approved amendments to enhance PSIC's lending limit. These will be presented to the Punjab Assembly for approval.
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Incentive Package Extension: An extension was granted for allottees of cancelled plots in the Small Industrial Estate, Kasur.
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Review of Plot Booking Regulations: The Board reviewed the terms and regulations for booking plots in the Small Industrial Estate, Mandi Bahauddin.
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Participation in Exhibitions: PSIC will participate in national and international exhibitions at a special discount of up to 20 percent.
Key Takeaways from Minister Shafay's Address:
Chaudhry Shafay Hussain highlighted a major programme this year to boost economic activities and exports in Punjab. He emphasized:
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Easy access to loans of up to Rs. 5 billion for industries through collaboration with the Bank of Punjab.
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The new Chief Minister Punjab-approved land lease policy for industrial estates, offering leases of 30 to 50 years.
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Plans for a new industrial estate in Mandi Bahauddin, with a 20% quota for overseas Pakistanis and a Social Security Hospital.
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A programme to enhance industrial infrastructure in 23 small industrial estates across Punjab.