LAHORE: The Punjab Board of Investment and Trade (PBIT) on Wednesday approved the establishment of seven committees, including Audit Committee, Risk Management Committee and Human Resource Committee.
The committee on recruitment of CEO and related matters of PBIT will finalize its recommendations in two weeks. This approval was given in the 47th meeting of the BOD of PBIT which was presided over by Provincial Minister of Industry and Commerce Chaudhry Shafi Hussain and Chairperson of PBIT Muntaha Ashraf. The meeting was held in the committee room of PBIT in which the six-point agenda was considered.
Secretary for Industry and Commerce Dr. Ehsan Bhatta, President of Lahore Chamber of Commerce and Industry Mian Abuzar Shad and other directors of the board participated in the meeting. PBIT CEO Jalal Hasan gave a detailed briefing on the board’s performance, operations and strategic plan for the next six months.
The Board also approved the minutes of its 46th meeting. Addressing the meeting, the provincial minister said that Punjab has turned into a center of business activities. He highlighted the vast investment opportunities available in Punjab’s 18 Special Economic Zones (SEZs), including seven new SEZs under construction.
The Federal Minister said that business facilitation centers are playing an important role in promoting economic activities, four more centers are being established. He emphasized that the Punjab Chambers of Commerce and the Liaison Committee provide a platform for quick resolution of industrialists’ problems.
Shafii also announced that a program for solarization of industrial estates was underway and stressed the need for practical measures to promote bilateral trade with foreign countries.
Chairman PBIT said that Punjab Board of Investment and Trade is actively facilitating investment and helping industrialists. The board has successfully invested $6.9 billion to date. He said that 27,000 No Objection Certificates (NOCs) have been issued for various business activities through Business Facilitation Centres.