South Korean investors invited to explore SME sector in Punjab

LAHORE: Punjab Board of Investment and Trade (PBIT) Chairman Muntaha Ashraf invited South Korean investors to explore small and medium-sized enterprise (SME) sector during a meeting with Park Kijun, Ambassador of Republic of Korea in Pakistan.

The discussions centered around exploring fresh business prospects and amplifying bilateral trade, with a keen focus on transformative sectors such as information technology, automotive, and healthcare.

Muntaha Ashraf spotlighted Pakistan's latent potential within the SME sector, extending a cordial invitation to South Korean investors to explore and harness these avenues for mutual benefit.

The dialogue underscored the pivotal role of bilateral delegations in fostering partnerships, sharing invaluable experiences, and propelling economic growth on both fronts.

‘We are committed to offering South Korean investors a congenial business environment and ensuring they perceive Pakistan as a land brimming with opportunities,’ PBIT chairman affirmed. The conversations also delved into strategies to surmount existing challenges and streamline investment processes, thereby enabling South Korean enterprises to thrive seamlessly in Pakistan’s dynamic market landscape.

Uplift schemes: The Provincial Development Working Party (PDWP) approved five development schemes worth over Rs14 billion.

The schemes were approved in the 58th meeting of the Provincial Development Working Party, presided by Planning and Development (P&D) Board Chairman Barrister Nabeel Ahmad Awan on Friday.

The meeting was attended by Secretary Planning and Development Board, Dr Asif Tufail, Chief Economist Masood Anwar, members of the P&D Board, and other senior officials.

The approved schemes included rehabilitation /augmentation of comprehensive sewerage and drainage scheme in Raiwind City, District Lahore (Phase-I) at an estimated cost of Rs1.814 billion, rehabilitation of comprehensive water supply scheme in Raiwind City, District Lahore at an estimated cost of Rs1.388 billion, Nawaz Sharif Institute of Cardiology, Sargodha at a cost of Rs8.546 billion, specialised medical equipment for Nawaz Sharif Institute of Cardiology, Sargodha at a cost of Rs2.907 billion, and feasibility study on remodeling and rehabilitation of the 3R-Abbasia drainage system to address water logging of agricultural land under CCA of Abbasia Canal in Tehsil Liaquatpur and Tehsil Rahim Yar Khan (PC-II) at a cost of Rs45.924 million.