LAHORE, July 13: The Punjab Small Industries Corporation on Tuesday approved the Faisalabad Textile City Project and the plan for development of a new industrial estate in the provincial metropolis.

The decisions were taken at a meeting of the PSIC Board of Directors held here with Punjab Industries Minister Muhammad Ajmal Cheema in the chair for the approval of the budget for the current financial year. A proposal for increase in the pension of the retired employees of the corporation was also approved.

The board was informed that 375 plots measuring 112 acres had been allotted at the Sundar Industrial Estate site and more were being allotted. The minister ordered starting of development work at the site immediately for completion within a year. He said that provision of international standard facilities should be ensured in Sundar Industrial Estate.

The board was further informed that the development of the wood seasoning centre would be completed at Chiniot this year and textile city development would start on 1,100 acres of land near Kharrainawala in Faisalabad in the near future.

New schemes were also being formulated for the development of the unutilized PSIC land. The minister said the PSIC would open a number of handicraft shops to facilitate the marketing of the products of artisans.