Punjab has been firmly put on a path of high economic growth and is moving up quickly on the
ladder of progress.It is becoming a progressively more significant player on Asia's economic map and is soon expected to exceed Sri Lanka, Nepal and Bangladesh in terms of the value of its Gross Provincial Product.Punjab’s GDP stands at USD 266 Billion and its share in total GDP is 54.9%. With a large population pool of 96 Million, Punjab is the most industrialized province of Pakistan. Today Punjab, being at the centre of economic activities is the epitome of the continuous efforts of its people and the Government to reach high standards in education, medical facilities, roads and mega infrastructure of science and research.
Punjab believes in free trade where there are no restrictions against exports or imports. Punjab also welcomes foreign direct investments (FDIs) and does not restrict the repatriation of profits and capital. Due to prudent economic policies in Punjab,it’s economy has turned out to be more resistant to the recession and better managed than most of the world's developing regions. The pragmatic approach to financial management that Punjab has adopted has helped it to achieve an average growth rate of 6%.
As a largely agrarian province which sustains itself, Punjab offers abundance in food crops and livestock produce. Punjab produces exportable quality rice, cotton, wheat, dairy, meat and is rich in various mineral resources especially salt, iron ore and coal. Punjab also has the advantage of having the lowest transportation cost and a huge pool of skilled labor force which makes doing business in the region very cost effective. Punjab has historically been the hub of democratic forces supporting industrialization and a stable judiciary making it the safest region in Pakistan to invest in.
Much is being already done to help Punjab realize its potential in various sectors like dairy, livestock,mining and agriculture. Punjab is also looking forward and trying to explore new possibilities with local and foreign stakeholders to develop the local IT and pharmaceutical industries. Overall service delivery in education and health has also improved and so has the development of transport and other infrastructural facilities. The laptop scheme to distribute 125,000 laptops to students on an annual basis for the next three years and the Bus Rapid Transit system in Lahore are just a few such achievements worth mentioning.
In order to bring about development in the region and to attract local and foreign investment an institute has been specially established by the Punjab government called Punjab Board of Investment and Trade (PBIT) for which a team with global expertise and vision has been recruited.
Punjab is currently a hot zone for international and local investors to tap the available opportunities that this province has to offer and the vision of Punjab Government is to increase business in this province so that its people can enjoy economic prosperity and high living standards in the years to come.
Muhammad Shahbaz Sharif
Chief Minister Punjab
Punjab Small Industries Corporation has achieved many landmarks of excellence. This has been made possible by synergizing the efforts of the industries and PSIC management.
The private sector entrepreneurs who are setting up industries are our most valued assets. They have therefore been my priority. All efforts would be made to make their job easy. We are endeavoring to support industrialists to expand their businesses and to urge new entrepreneurs to set up industrial units to reap the comparative advantage existing in our industrial hubs.
May Allah Almighty enable us in achieving the desired objectives.
Ch. Muhammad Shafique
Minister for Industries, Commerce & Investment
Government of the Punjab
The Industries, Commerce & Investment Department of Government of the Punjab is striving to promote industrial development, embayment promotion and trade & investment in the Punjab. The Government of the Punjab is keen to creating a business-friendly investment climate in the province and to present it as an attractive investment destination for the entrepreneurs/investors.
PSIC is a vibrant and vital organ of IC & I Department. It has a glorious history of achievement in the promotion and development of Small Scale Industry in the Punjab. The plans of PSIC to move forward for promotion and development of small scale and creative & cultural industrial sector are praise worthy. PSIC has played a vital role in Industrial Development and employment generation thtough credit assistance scheme and estate development programs.
Secretary Industries, Commerce & Investment
Government of the Punjab
The Punjab Small Industries Corporation is making its utmost endeavors to develop, promote and streamline the industrial sector in the province of Punjab with the best available social capital as well as professional expertise.
We always invite the visionaries, strategists, policy makers, developers, planners of the industrial sector to come forward and join hands with the PSIC to enhance the industrial base in the country to alleviate poverty through employment generation and serve the nation with indomitable stoic determination and pride.
I am sanguine that with the dedicated team of professionals in PSIC, we will be able to implement pro-poor growth and skilled development in the province of Punjab. May God continue blessing PSIC and people of Pakistan.
Punjab Small Industries Corporation