LAHORE: Punjab Chief Minister Sardar Usman Buzdar has said that new industrial policy will augur well for people as it will generate 1.3 million employment opportunities.

Addressing a meeting, he said that working capacity of half a million employees will also be enhanced through the new policy. He added that the government is striving for a 10 per cent average annual increase in industrial-growth.

Setting up of small- and medium-size industry will be encouraged by the government under a loan support program, as it will generate employment opportunities for a large number of people, he added.

The CM reiterated that interests of the traders and  industrialists will be safeguarded and necessary incentives will be given to them because the development of the national economy is directly linked with the strengthening of trade and industry.

He said that more facilities will be provided through  business registration portal and one window centres to ease  the traders and industrialists. Usman Buzdar said that Allama Iqbal Industrial Estate will be established in Faisalabad on an area of 3,317 acres with an estimated cost of Rs 23 billion.

He said that nine industrial  centres will be established on 10,000 acres of land to promote the industry in the province adding that necessary steps are being taken in this regard. He said that 150 acres of land in Gujranwala  and 63 acres in Wazirabad have been allocated for setting up small industrial estates.

He said that 6,000 persons will get different types of jobs due to the direct investment of six foreign companies.

Usman Buzdar said that the Punjab University of Technology will be established in Rasool area of Mandi Bahauddin with an amount of Rs 2 billion.

Moreover, 7,000 graduates of TEVTA institutions  will be given interest-free loans, he added.

Meanwhile, the chief minister said in a statement that the mission of setting up a welfare state has been started and the target will be achieved soon.

The government is following the agenda of public welfare under the vision of Prime Minister Imran Khan. He said that purpose of Ehsaas Programme is to heal the pain of the people.