Business

‘Punjab’s GDP higher than that of many countries’

Punjab finance minister says province has ample infrastructure

APP December 08, 2016

Punjab finance minister says province has ample infrastructure. CREATIVE COMMONS

LAHORE: Provincial Minister for Finance Ayesha Ghaus Pasha boasted that gross domestic product of Punjab is higher than many countries of the region, adding that there exists an exemplary infrastructure for investment while raw material is also available for a number of industries.

The minister made these remarks while addressing the inaugural ceremony of the Pak-Italy Trade Forum arranged by Punjab Board of Investment and Trade (PBIT), Lahore Chamber of Commerce and Industries (LCCI) with the cooperation of Italy.

She said that Punjab holds special importance for business due to its vast network of roads, pro-growth economic policies, trained manpower, good governance and transparency.

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The minister said that the purpose of the forum was to apprise the visiting Italian delegation of business opportunities in Punjab and promote business contacts between Italy and Pakistan.

“Punjab government is providing a safe environment to foreign investors due to which the confidence of international business community is improving,” said Pasha.

“Around 200 multinational companies and 37 Italian investors are interacting with their Pakistani counterparts, which is proof of mutual confidence.”

She added that there was a vast scope of investment in health, energy, agriculture, industries and mining sectors in Punjab.

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According to Pasha, the government is taking a keen interest in promotion of investment and in particular public-private partnerships.

She further said that the government was extending special incentives to partner countries for investment in these sectors. LCCI President Abdul Basit said that Pakistani economy was fast developing due to China-Pakistan Economic Corridor and Punjab was providing maximum opportunities for investment.

Six memoranda of understanding in trade and investment sectors were signed between Pakistan and Italy on this occasion. Provincial Minister for Industries Sheikh Allauddin, Deputy Minister of Italy for Economic Development Ivan Scalfarotto, Italian Ambassador Stefano Pontecorvo and President Trade Agency of Italy Michele Scannavini besides were present on the occasion.

Published in The Express Tribune, December 9^th, 2016.

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COMMENTS (4)

Zafar Sipra | 7 years ago | Reply Even more importantly, its Gross Happiness Indicator (or whatever is used in Bhutan) will be even higher with Bilawal's decision to permanently settle in Punjab.

Muzzammil | 7 years ago | Reply Punjab's GDP might be greater than many countries, so must be its population. Without indulging into the hate commentary, I must say that Punjab is definitely a big economy. However, it is landlocked and lacks energy sources, which makes it dependent on other provinces. Establishment in Punjab should understand the fact that there fate is linked with Pakistan. They should help and cooperate with other provinces also so that they could also take example from Punjab's impressive development. Imo, Punjab has no other choice. In the past, Punjab tried to look towards India especially for energy needs (e.g. the failed LNG import plan from India) to reduce its reliance on other provinces but the idea failed.

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Raw is War | 7 years ago | Reply Pakistan's GDP for example- because Punjabis have a stranglehold on Pakistan's economy.

Faz | 7 years ago | Reply They all have less population than Punjab.

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