Daily Times

Honorary Consul Generals of 13 countries called on Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain, here on Tuesday.

In the meeting, investment opportunities in Punjab were discussed. The Provincial Minister informed the Honorary Consul Generals about the possibilities of investment in various sectors of Punjab.

He said that there is a very favorable environment for domestic and foreign investment in Punjab and investors in Special Economic Zones have special privileges including 10-year income tax exemption and one-time facility to import machinery without import duty.

He added that industrial estates have the best industrial infrastructure, while the process of transition of industrial estates to solar energy has also been initiated.

Chaudhry Shafay said that a Garment City on 630 acres area is being built in Quaid-i-Azam Business Park, Sheikhupura and this city would be completely on solar energy. Foreign investors in Garment City would be given best facilities including accommodation. The promotion of solar energy is the first priority of the government, he added.

He said that he has so far met with more than 21 foreign solar energy companies, asserting that a major Chinese investment company would set up a solar energy plant in Punjab this year. Another Chinese group would set up an electric bike assembling plant in Punjab. Special measures are also being taken for the promotion of fish industry, he added.

Honorary Consul Generals appreciated the steps taken to promote investment in Punjab. Honorary Consul General of Austria Sarmad Amin, Asma of Netherlands, Munir Iqbal of Italy, Shahidsti of Mauritania, Nazir Pracha of Tajikistan, Navid Farid of Norway, Zahid Anjum of Kosovo, Ahmad Hussain of Poland, Zahid Iqbal of Bosnia, Murad Sehgal of Belgium and Honorary Consul General Qazi Humayun of Bangladesh were among those who met with Provincial Industries and Commerce Minister.