Punjab CM Maryam Nawaz announces incentives for investors, presents vision of green industry

Punjab Chief Minister Maryam Nawaz Sharif has approved in principle the establishment of modern Green Industrial Economic Zone in the province while announcing a special incentives package for local and international businesses.

The decision was taken at a meeting between the chief minister and a delegation of the Overseas Pakistanis Foundation (OPF). OPF Chairman Syed Qamar Raza briefed the chief minister about the proposed project which will build a world class green economic zone through collaboration between OPF and Green Energy Group.

The proposed zone is intended to boost clean energy, industrial expansion, exports and job possibilities. The project has moved forward with renewable energy infrastructure plans, including solar, wind, hydro, ground-source energy, battery storage, and high-voltage backup systems, to deliver sustainable power solutions for companies.

The briefing said that the project would provide more than 18,000 direct and indirect jobs, annual revenues of over Rs5.6 billion and environment-friendly exports. The project is also expected to help promote Pakistan’s economic growth and reduce carbon emissions in accordance with net-zero aspirations.

“Punjab is open for investment from all sectors and we assured the investors of the full support of the government,” said Maryam Nawaz. “We have introduced a zero time to start policy to support new industries and businesses. A one window system has been introduced to fast track the processing of necessary approvals and permissions,” she said.

The chief minister said the provincial administration was aiming to build a secure and investor-friendly environment devoid of administrative barriers. “The government’s vision is to make Punjab a hub of green industries, development of clean energy and international trade activities,” she added.