Investors could enjoy timely issuance of NOCs for business: Makhdoom Hashim


LAHORE: Punjab Finance Minister Makhdoom Hashim Jawan Bakht said that Punjab government was taking revolutionary steps to facilitate investors. The timely start-up policy of issuance the NOCs for new businesses will prove to be the biggest facility for investors. The investor will get all NOCs from a primary agency. Under the policy, the timing of issuance of NOCs will be determined by the nature of the business or industry. Low risk businesses will be able to get all the NOCs within 7 days while those with average risk will be able to get all the NOCs within 10 days. The rules and conditions for issuing NOCs in various departments are also being reviewed, he said addressing the inaugural function of the Investment Facilitation Cell organized by the Punjab government here Thursday.
He said getting a NOC was always a serious problem for the investors from the day first. However, the present government is providing all possible facilities to investors for economic growth and prosperity in the country. The new industrial zones are being set up in the province. The Punjab government is paying special attention to the manufacturing sector to reduce dependence on imports. Material testing laboratories are being set up in the province to eliminate dependence on foreign countries, he added. The finance minister said the present government was introducing reforms in the field of industry and business which have not been introduced in the last 70 years with the support of the federal government.
The event was attended by provincial ministers, cabinet members and senior bureaucrats, as well as local and foreign investors and representatives of the chambers of commerce and industries.