Punjab eyes hefty investment

Punjab is consolidating its position as Pakistan's leading investment destination as the provincial government moves ahead with several new industrial initiatives, including a state-of-the-art complex for Chinese executives and investors near the Faisalabad Industrial Estate Development and Management Company (FIEDMC).

In an interview with The Express Tribune, Provincial Minister for Industries, Commerce and Investment Chaudhry Shafay Hussain said the facility is designed to provide a secure and comfortable environment for Chinese professionals, who face travel restrictions in Pakistan due to security concerns.

"The complex will have all the necessary facilities," he said, adding "it reflects our commitment to ensuring that foreign investors operating in Punjab have a safe and supportive environment."

Punjab, which contributes nearly 54% to Pakistan's GDP, continues to attract most of the country's industrial and foreign investment. According to Shafay, improved infrastructure, skilled manpower and investor-friendly policies have made the province a preferred destination for both local and international investors. Foreign direct investment is increasing, led by Chinese, Turkish and Middle Eastern investors.

Shafay said the government's focus is on promoting value-added industries to maximise export potential and boost provincial revenues. "It is now a strict policy; every investor must add value to the product. Whether it is pink salt or minerals, only value-added exports will be encouraged," he said. "This approach will help provinces generate more funds and support sustainable economic growth."

As part of efforts to diversify its industrial portfolio, Punjab is also engaging with Turkey to strengthen its gems and jewellery sector. "Turkey has great expertise in gemstone processing and jewellery design, and we want to collaborate to bring similar capabilities here," Shafay said.

Turkey is among the world's top 10 jewellery exporters, with Istanbul serving as a regional hub for gemstone polishing and gold craftsmanship, a model Punjab aims to learn from.

The minister revealed that new gold placer deposits have been identified in Attock and Jhelum districts. "We are formulating a policy that will go to the cabinet for approval. Once cleared, leases will be offered to regulated investors for exploration and development," he said, adding that responsible extraction could open a new frontier for Punjab's mineral sector.

Industrial activity across Punjab is already gaining momentum. "Eight cement companies are currently in the process of obtaining expansion approvals," Shafay said. "A couple of them are looking to establish new plants of up to 10,000 tons per day, mainly for export purposes."

He added that similar growth is being seen in emerging sectors such as synthetic leather, electric vehicles (EVs) and EV charging stations, which he believes will lead Punjab's industrial future.

To further expand industrial capacity, the government has secured 1,400 acres of non-agricultural land in Sialkot for a new industrial estate.

"Sialkot already has an export processing zone, but we are developing another state-of-the-art industrial area that includes a 240-acre dedicated Surgical City," he said. "It will further enhance Punjab's exports of medical and surgical instruments, which are already globally recognised."

Parallel efforts are underway to upgrade industrial estates in southern Punjab. "We are improving facilities in Multan and Bahawalpur and have reduced commercial plot prices to encourage genuine industrialists," Shafay said, adding "plots will only be allotted to those who plan to build industries, not to those using them for real estate trading."

Foreign investors continue to show strong confidence in Punjab's industrial landscape. "Vivo Mobile is setting up a manufacturing unit here and several Chinese firms are investing in EV plants and textile projects," Shafay said. "Their trust in Punjab's resources, manpower and infrastructure is growing every year."

Reflecting on his tenure, the minister admitted that delivering results in a complex administrative setup requires persistence. "The job is not easy if you really want to deliver. Each day brings new challenges and follow-ups consume most of my time. But that's what is needed to make the system work," he said.

The minister hoped that the province will continue to lead Pakistan's industrial transformation as consistent policies, improved infrastructure and renewed investor confidence are steadily positioning Punjab as the country's most reliable destination for foreign investment and sustainable economic growth for the years to come.

"We have already set the stage for take-off and we hope that the province will establish itself as a growth engine of this region in coming years," Shafay added.