Key Decisions from the Board Meeting
- Cost of Living Dearness Allowance
- Approved for: Employees in grades one to 14.
- Â Employees in grade 15 and above.The decision reflects a commitment to addressing the economic challenges faced by lower-grade employees amid rising inflation. The allowance aims to provide some relief to these employees, ensuring they can manage their expenses better.
Internship Training Program
Chaudhry Shafay Hussain, the commonplace Clergyman of Industry and Trade, directed the board’s 128th gathering where it endorsed a temporary job preparing a program for the partnership. The interns will receive a 30,000 PKR stipend each month to assist them financially as they gain work experience.
Preparation of State Development Rules 2024
The board approved drafting the Punjab Small Industries Corporation State Development Rules 2024. This initiative aims at simplifying operations within the corporation as well as ensuring adherence to regulations.
Additional Approvals and Initiatives
Export Processing Zone and Industrial Plot Restoration
NOC for Weighbridge: The board granted permission for the issuance of an NOC for a weighbridge in the Export Processing Zone in Gujranwala.
Restoring Plots: We will restore certain plots in small industrial estates. Plot owners must pay all dues promptly and establish industrial units within one year. These measures aim to boost industrial activities and ensure the optimal use of industrial plots, contributing to economic growth and job creation in the region.
Collaboration with Educational Institutions
An agreement for collaboration between Metal Craft Arts Village Sheikhupura and the National College of Arts was also approved. This partnership aims to foster educational and industrial synergy, promoting craftsmanship and arts in the region.
Budget Deliberations
The board postponed discussions on PSIC’s new budget. A subcommittee will review the budget details within the next 10 days, ensuring a thorough evaluation and appropriate allocation of resources.
Minister’s Remarks and Future Plans
Provincial Minister Chaudhry Shafay Hussain mentioned that the construction of PSIC House on Davis Road is nearing completion and will soon be inaugurated by the Chief Minister of Punjab. Additionally, the minister requested a report on the enforcement of the ban on the use of substandard fuel in the 23 small industrial estates of Punjab.
The board meeting showcased PSIC’s proactive approach to addressing employee welfare, industrial development, and educational collaboration. The approval of the cost of living allowance for lower-grade employees and the introduction of an internship program. Highlight the corporation’s efforts to support its workforce and foster economic growth. Plans, including the completion of PSIC House and the strict enforcement of fuel standards, demonstrate a commitment to sustainable development and regulatory compliance.
