LAHORE, Aug 11: The Punjab government has allocated huge sums for accelerating the pace of industrialization and creating favourable conditions for foreign investment.

This was stated by Chief Minister Chaudhry Pervaiz Elahi at a meeting with a delegation of the Commonwealth Parliamentary Association, which called on him here on Wednesday.

The delegation was led by Hashim Abdul Aleem. The chief minister said the Punjab Industrial Development and Management Company had been set up in the province for providing the necessary facilities on industrial estates.

He said resources were being provided for development projects keeping in view the principles of fiscal discipline. Steps had also been taken for promotion of small and medium industry.

He said all industrial estates in the province were being provided basic facilities like water, power, gas and telephone for speeding up industrial and economic activity.

He said a comprehensive system had been evolved to improve the administrative capability of government departments. The process of computerization was being carried out to simplify official procedure.

He said the government was providing equal opportunities of development to all areas of the province, and efforts were being made to alleviate poverty and generate employment opportunities. He said the parliamentary system stood on strong footings and reforms were being introduced in various sectors under private-public partnership.