Punjab Industries, Commerce and Investment Minister Shafay Huassian on Saturday said the Punjab government has introduced a new industrial policy for free industrial zones, with an attractive four-year lease offer and a 30-day NOC time period.
“Anyone can set up an industry in the industrial estates of Sheikhupura, Bhalwal and Rahim Yar Khan with offers of 0% duty on imports of machinery and no income tax for 10 years,” he said while talking to the media during the inauguration of the 11th Colour & Chem Expo 2026, a two-day international exhibition for the chemicals industry at Lahore Expo Centre in Johar Town.
Hussain said Chinese companies had already begun making significant investments in Punjab to avoid costly Chinese labour, adding that several new manufacturing plants across various sectors would be established during the current financial year.
He said this year, new industries are being set up in pharmaceuticals, synthetic leather, the food sector, lithium batteries, electric bikes, tiles, etc.
He noted that, under the Punjab government's new industrial policy, investors were being offered attractive incentives in free economic zones to encourage industrial growth.
The minister further announced that a dedicated policy for the development of Pakistan's chemicals industry was being introduced to strengthen the sector and promote investment.
Commenting on regional developments, Hussain said Pakistan's citrus industry had been adversely affected by the Middle East conflict and stressed the need to accelerate progress on the Iran-Pakistan gas pipeline project. He added that future reductions in global oil prices would largely depend on the restoration of peace and stability across the region.
Highlighting the government's commitment to sustainable transport, the minister said that promoting electric vehicles (EVs) and electric bikes remained a key priority in the wake of ongoing global energy crisis.
Similarly, he added that lithium batteries would also be manufactured by Chinese companies soon.
“The provincial government is further bringing a new scheme of providing loans up to Rs100 million for large-scale industrialists.”
Lahore Chamber of Commerce and Industry President Faheemur Rehman Sehgal called for a reduction in the petroleum levy to ease the financial burden on businesses.
.jpg)
