Punjab eyes pre-credit approvals for projects

LAHORE:

The Punjab Board of Investment and Trade (PBIT) is actively pursuing pre-credit approval letters from financial institutions to validate bankable projects across various sectors. In this regard, PBIT Chairman Muhammad Muntaha Ashraf held a strategic meeting with Allied Bank Limited (ABL) Chief Executive Officer (CEO) Aizid Razzaq Gill at ABL's head office, according to a press statement released Monday.

The meeting was also attended by PBIT CEO Jalal Hassan and senior officials from both organisations, including ABL's group head and chief risk officer. This high-level discussion is part of the Punjab government's broader initiative to identify and promote financially viable projects across various sectors in the province, aiming to secure pre-credit approval letters from financial institutions to enhance their appeal for investors.

ABL CEO Aizid Razzaq Gill assured full support in assessing the feasibility of proposed projects, underscoring the bank's commitment to fostering sustainable investment opportunities in Punjab. He emphasised the importance of collaboration in validating financial models to attract both domestic and international stakeholders.

The press statement highlighted that this process would improve investor confidence by ensuring robust financial validation, a critical step in driving economic growth and development in the province.