Punjab steps up measures to boost business, investment

LAHORE: Punjab Finance Minister Mian Mujtaba Shuja-ur-Rehman disclosed that the government of Chief Minister Maryam Nawaz Sharif is implementing effective strategies to stimulate business activity, attract investment, expedite industrial development, and generate employment opportunities. Assisting the business community and positioning the private sector as a vital partner in economic growth are vital elements of the administration's economic strategy, he elucidated during the Third Business Excellence Awards and Conference 2026, orchestrated by Tajiran Ittehad Group All Pakistan and Events Media (Pvt) Limited.

Attendees comprised business community members, industrialists, traders, and business leaders who have excelled in their respective domains. Shuja-ur-Rehman emphasized that the process of establishing new ventures and expanding existing businesses is being streamlined in Punjab, in accordance with the Chief Minister's vision. The introduction of initiatives such as the Asaan Karobar Card and Asaan Karobar Finance has enabled small and medium-sized entrepreneurs to receive interest-free financial aid.

The primary objective is to spur business activity, foster employment opportunities, and expand economic activity across the province.

Furthermore, the Finance Minister outlined the establishment of business facilitation centers to provide the business community and investors with easier access to various government services. These centers offer consolidated facilities for obtaining NOCs, licenses, and permits from multiple departments, thereby diminishing procedural obstacles for businesses and fostering a more conducive environment for investment.

Shuja-ur-Rehman reiterated that industrial development, investment, and export growth are cornerstones of Punjab's economic advancement. The private sector assumes a pivotal role in investment, production, employment generation, and export promotion; hence, effective collaboration between the government and the business community is indispensable for achieving economic goals.

The Minister underscored the government's commitment to creating new prospects for youth and entrepreneurs while simultaneously fostering industry and trade. Providing entrepreneurs with financial aid, facilitation, and a business-friendly environment will not only encourage the formation of new enterprises but also empower existing businesses to expand their operations.

He further highlighted that the business community is instrumental in Pakistan's economic development, as industrialists, traders, investors, and business enterprises contribute to strengthening the national economy by generating employment, enhancing domestic production, promoting investment, and boosting exports.

The Business Excellence Awards, as highlighted by Shuja-ur-Rehman, serve a dual purpose: recognizing outstanding business performance and inspiring the younger generation towards entrepreneurship, investment, and innovation. By showcasing the achievements of successful business personalities, these awards motivate the next generation to pursue entrepreneurial endeavors and contribute to the nation's economic potential and private sector commitment.

The Finance Minister conferred Business Excellence Awards to distinguished business leaders for their commendable achievements during the event.