Govt to ease NOC rules to boost investment

Authorities plan to holistically facilitate investors

LAHORE:

Punjab Chief Minister Sardar Usman Buzdar on Friday said the new investment could only be attracted if industries in the province prosper and create more opportunities for the citizens.

Chairing a meeting at the CM office, Usman Buzdar said the provincial government had taken a major step for the promotion of investment of billions of rupees in the province through simplifying issuance of No Objection Certificates (NOCs) from different departments for setting up of cement factories.

"The government has also linked the issuance of NOCs with a timeline whereas it has been decided to make necessary amendments to the rules and regulations regarding the unused mining lease," he said, adding the government would facilitate investors by all means.

He ordered for further expediting the process of issuing the NOCs besides simplifying the rules and regulations for the convenience of investors. Buzdar said he would not tolerate any delay in this regard. He expressed satisfaction over the progress made in issuance of the NOCs and lauded the performance of industries and other departments concerned.

Buzdar also gave a nod to the constituting a steering committee, headed by the secretary local government. This committee will review the entire process and ensure timely issuance of the NOCs.

The secretary industries briefed the meeting that the Punjab government had received 23 applications for installing cement plants.

The NOCs would be issued to five applicants at the beginning of next month whereas necessary action has been initiated on the rest of the applications. A cement plant costs Rs30 to Rs40 billion. Punjab trade minister, chief secretary, secretaries LG, heads of irrigation, industry, minerals, environment, special monitoring unit and officials concerned were present during the meeting.

Published in The Express Tribune, September 26^th, 2020.