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.

Offers zero import duty on machinery and income tax breaks

“Under the Punjab government’s new industrial policy, investors are being offered attractive incentives in free economic zones to encourage industrial growth,” he maintained.

The minister said that a dedicated policy to develop Pakistan’s chemicals industry was being introduced to strengthen the sector and attract investment.

Commenting on regional developments, Mr Hussain said Pakistan’s citrus industry had been adversely affected by the conflict involving Iran and stressed the need to accelerate progress on the Iran-Pakistan gas pipeline project. He added that future reductions in global oil prices would largely depend on the restoration of peace and stability across the region.

Highlighting the government’s commitment to sustainable transport, the minister said that promoting electric vehicles (EVs) and electric bikes remained a key priority amid the global energy crisis.

He also revealed that the first-ever chip frame manufacturing plant in the country, Vivo Mobiles, currently under construction in Punjab with 40 per cent completion, was expected to commence production within the next year. Similarly, he added that lithium batteries would soon be manufactured by Chinese companies.

Published in Dawn, July 19th, 2026