The Punjab government has decided to grant concessions in land conversion fees (land charges) to boost investment in private industrial zones, officials said on Thursday.
According to government sources, the expected investment is projected to create employment opportunities for around 20,000 people. The company leading the investment has set a target of bringing in foreign investment worth $150 million, with export revenue estimated at $400 million.
The land charges in Lahore and Kasur Special Economic Zones were earlier estimated at Rs. 440 million, which will now be offered at a reduced rate as part of the incentive package.
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The entire process, including oversight and implementation, will be jointly supervised by the Industries Department and the Finance Department, the officials added.
