Lahore: Punjab’s Minister for Industries, Commerce, and Investment, Ch. Shafi Hussain, emphasized the provincial government's commitment to the alternate energy sector and industrialization as focal points during a meeting at the Lahore Chamber of Commerce and Industry (LCCI). Key collaborations with China and Austria aim to establish solar panel manufacturing and small hydroelectric projects in the region.
According to Lahore Chamber of Commerce and Industry, the meeting also featured insights from LCCI President Mian Abuzar Shad and other senior members, who discussed the prevailing business conditions and proposed various solutions to enhance the industrial landscape in Punjab. Ch. Shafi Hussain highlighted significant developments, including infrastructure enhancements at Punjab’s largest industrial estate, FIEDMC, and initiatives aimed at reducing operational costs through energy-efficient projects.
The Minister outlined the construction underway at FIEDMC, including a proposed railway station to aid in goods transportation and a 30 MW solar power plant to supply affordable electricity. He also announced a partnership with a Chinese company to manufacture solar panels locally, aiming to diminish import reliance and bolster the green energy sector in Punjab. This move, inspired by India's success in solar panel exports, is seen as a potential economic booster.
Mian Abuzar Shad presented the challenges faced by the industrial sector, including rising production costs which impact the entire country's economic framework, as Punjab contributes over 50% to Pakistan's GDP. He called for financial reforms to support SMEs, which constitute a major portion of the region's business environment, suggesting accessible financing and a straightforward leasing policy for industrial land, which has seen significant price increases.
Further contributions from LCCI’s senior vice presidents, Engineer Khalid Usman and Shahid Nazir Chaudhry, included calls for more significant LCCI representation within industrial regulatory boards and policy advocacy for environmental sustainability through increased tree planting in industrial areas.
Additionally, Minister Hussain detailed initiatives to position Punjab as a leader in electric vehicle manufacturing, including a modern electric bike facility in Sundar Industrial Estate and discussions with Austria for small hydro projects. Addressing environmental concerns, he argued against the wholesale shutdown of industries due to air pollution, proposing instead a strategy focused on promoting electric vehicles and collaboration with banks to finance pollution-reducing technologies.
The initiatives discussed aim to attract foreign investment, with particular interest from Chinese companies looking to invest in energy-efficient projects such as the Garment City in Sheikhupura and plans for a “Shoe City” and electric vehicle manufacturing facilities.