LAHORE: The Punjab government is all set to launch Industrial Policy 2018 to facilitate private sector investment growth by providing an enabling eco-system in line with its 100-day agenda.

The policy, which will replace 2003-04 industrial policy, will come into effect after the chief minister’s approval and seeks to increase productivity and competitiveness of the industry.

The policy envisages a level playing field for domestic and foreign players across all sectors to create jobs for the province’s growing skilled labour force. It will also include measures to incorporate the disenfranchised segments – impoverished districts, women and disabled persons.

The core policy guidelines will be aimed at revamping special economic zones and industrial estates through attractive incentives, optimal locations, dedicated infrastructure, business friendly regulatory regime and participation of private sector in development, marketing and operation.

The policy will look to increase productivity, expand access to finance, establish credit bureaus and investment matching programme, change governance environment through private sector input in policy-making and establish Industrial Intelligence Unit.

In addition to announcing the policy, Punjab Industries, Commerce and Investment (IC&I) Department will also establish two new technology universities and making another varsity functional to provide higher education to three-year diploma holders in the province.

The students opting for technical education who lack higher degrees are compelled to take up menial jobs. The universities to be established in D.G. Khan and Taxila – in addition to the ready-to-make-functional Rasul University of Technology in Mandi Bahauddin – will offer Bachelor of Engineering degree to diploma holders.

The IC&I department has also finalised the establishment of Punjab Skill Development Authority to address student registration, curricula development and ensure quality examination system. The department is also working to restructure and revive Skill Advisory Forum.

Preliminary work has also begun to bring Technical Education and Vocational Training Authority, Punjab Vocational Training Council and Punjab Skills Development Fund under the umbrella of industries department. In addition to that, the department has established Small Industrial Estates in Gujranwala and Wazirabad which are currently awaiting formal inauguration.

In line with the 100-day agenda of the present government, the department has completed two projects for ground-breaking at Faisalabad Industrial Estate. The projects include a joint venture between Deli JE Glass-ware Limited and Haier Pakistan & Deli JW Glassware China and the launch of Renault Pakistan by Al-Futtaim Automotive Pakistan.

Published in Dawn, October 14th, 2018