LAHORE: The Punjab government has introduced a new industrial policy for free economic zones, offering investors an attractive four-year lease plan and a strict 30-day time limit for issuing no-objection certificates (NOCs).
“Anyone can set up an industry in the industrial estates of Sheikhupura, Bhalwal and Rahim Yar Khan, with offers of zero per cent duty on machinery imports and no income tax for 10 years,” said Punjab Industries, Commerce and Investment Minister Shafay Huassian on Saturday.
He was speaking to the media at the inauguration of the 11th Colour and Chem Expo 2026, a two-day international exhibition for the chemicals industry, held at the Lahore Expo Centre in Johar Town.
Following the inauguration, the minister toured a wide range of domestic and international exhibitors, reviewing the latest products, technologies and innovations on display. Mr Hussain further said Chinese companies had already begun making significant investments in Punjab to avoid costly Chinese labour, adding that several new manufacturing plants across various sectors would be established during the current financial year.
He said this year new industries are being set up in pharmaceuticals, synthetic leather, the food sector, lithium batteries, electric bikes, tiles, etc.
