30-05-2025
- Business
- Business Recorder
Minister opens 20th Plastic, Packaging Industry expo
LAHORE: Provincial Minister for Industries and Commerce, Chaudhry Shafay Hussain, inaugurated the three-day 20th Plastic and Packaging Industry Exhibition at the Expo Center. The exhibition, which commenced on May 29, will run until May 31.
During his visit, the provincial minister inspected the stalls set up by over 200 companies from 30 countries participating in the exhibition. Chaudhry Shafay Hussain announced that a new policy regarding industrial estates is being introduced, which will come into effect after approval from the Chief Minister of Punjab.
According to him the new policy aims to promote industrialization by reducing plot prices in industrial estates. Furthermore, the government plans to eliminate land mafia, which has been involved in property businesses in industrial estates. According to the new policy, plots will be canceled if factories are not established within two years.
The minister disclosed that agreements were made with major investor groups during his recent visit to China to invest in Punjab. Vivo, a Chinese mobile company, is setting up a plant in the Industrial Estate Faisalabad, and Vivo mobile phones will start manufacturing in Punjab within the next 18 months.
Chaudhry Shafay Hussain emphasised the importance of tree plantation to mitigate the effects of climate change. The Punjab government, under the leadership of Chief Minister Maryam Nawaz Sharif, is working to promote tree plantation. The Provincial Minister also highlighted that promoting the electric vehicle sector is a top priority for the government, with efforts underway to establish electric vehicle manufacturing plants in Punjab.
Foreign companies are prioritising investments in Punjab, with a Chinese company planning to set up a lithium battery plant. Pakistan's packaging industry has made significant progress, attracting foreign companies to invest in Punjab.
Copyright Business Recorder, 2025
