Punjab eyes exports, jobs boom

CM vows to address challenges of finance

LAHORE:

Chief Minister Maryam Nawaz Sharif on Friday launched the first Punjab Innovation for Value, Opportunity and Transformation (PIVOT) programme, along with a portal as part of a three-year economic transformation plan aimed at boosting investment, exports and employment.

The programme envisages government investment of around Rs1.089 trillion and private sector Rs906 billion, with an expected increase of $6.8b in exports and the creation of 162,000 jobs.

The government estimates that the initiative will improve the quality of life of one million people over the next three years.

Addressing the launch ceremony, attended by State Bank Governor Jameel Ahmad, members of the Pakistan Business Council and prominent industrialists and investors, the CM said PIVOT would drive economic transformation across the industry, agriculture, tourism, skills development and technology sectors.

She said the plan, covering 2026-29, was designed to expand economic opportunities, industrial capacity, investment and export-led growth.

Under the initiative, Rs753.7b has been allocated to strengthen Punjab's industrial sector, while a target has been set to train 402,060 people.

The programme also envisages concessional loans worth Rs300b for industrial projects at interest rates ranging up to five per cent.

The chief minister said the plan would address challenges facing businesses, including limited access to finance, industrial infrastructure and skills, regulatory hurdles and high energy costs.

The planned measures include machinery duty refunds and support for solar and battery energy storage systems.

Four agro-processing parks will be established in Sargodha, Khanewal, Okara and Bhakkar to promote fruit processing, cold storage, grading and other value-added activities. The initiative is expected to improve farmers' access to markets and strengthen agricultural value chains.

Modern farm mechanisation, storage facilities, meat and dairy processing, disease prevention and financial support for farmers are also part of the plan.

It will also focus on manufacturing sectors such as garments, sports goods, leather and footwear, pharmaceuticals, fans and ceramics.

The chief minister said aquaculture projects would promote shrimp farming, fisheries infrastructure and export-oriented production.

Tourism development is another component with investment opportunities planned around historical and religious sites, Lahore's night-time economy, the Potohar region, Cholistan and other attractions.

The skills and technology component aims to equip youth with expertise matching domestic and international demands. It includes digital skills training, information technology internships, internationally recognised certifications, start-up incubation and entrepreneurship support.

The chief minister said economic reforms under the programme would cover public-private partnerships, industrial land policy and business-friendly labour regulations.

She stressed that investor facilitation and transparent monitoring would be central to ensuring effective implementation.

Addressing the launch ceremony of the innovation, entrepreneurship and technology initiative, the chief minister said more than 1,200 start'ups were operating in Punjab, while 50 common facilities had been brought together to develop industrial clusters. The government had also consolidated skill development, she added.