Punjab cabinet approves Rs 1.995 trillion industry and export plan with 162,000 jobs

Punjab's cabinet has approved the main features of a Rs 1.995 trillion industrial development and export promotion programme that it expects to create more than 162,000 jobs. The plan was presented by Senior Minister Marriyum Aurangzeb at a cabinet meeting chaired by Chief Minister Maryam Nawaz Sharif on Monday, The Express Tribune reported; ProPakistani rounded it to a Rs 2 trillion plan.

Who pays: Rs 1.995 trillion split

The provincial government has not yet published a timeline, so it is not clear over how many years the money is to be spent, or how the private share will be raised.

What the Rs 2 trillion plan covers

• Industry: support for existing factories, e-business and e-commerce, garments and ready-made plug-and-play factory space.
• Export testing: testing and certification for leather, footwear and sports goods (the export base of Sialkot), and material-testing labs for cutlery, hand tools, ceramics and fans (Wazirabad and Gujrat's trades).
• Farm exports: export finance for horticulture and floriculture, and agriculture processing parks in Sargodha, Khanewal, Okara and Bhakkar.
• Value chains: wheat, meat and milk, citrus, potato and mango, plus aquaculture, tourism and skills.
• Horticulture authorities in 20 districts.

Other cabinet decisions that touch your pocket

• Green Tractor Programme: Rs 9.5 billion for 10,000 high-powered tractors. More than 250,000 farmers have applied and about 25,000 tractors have been delivered so far; late registration fees are waived. Subsidies for Phase IV (low-powered tractors) were also approved.
• Apni Chhat, Apna Ghar: Rs 60 billion more for the housing loan scheme. The chief minister turned down a proposal to charge stamp duty on it. If you are weighing a loan, our home loan calculator shows the monthly instalment.
• Water and solar: Rs 7.6 billion for drip irrigation, solar power and water storage on 10,000 acres in Mankera and Layyah.
• Transport: operating arrangements for 1,500 electric buses at tehsil level, and higher fines on the Punjab Ring Road for speeding, overloading and pedestrian-crossing offences.
• Health and education: a Maryam Nawaz Medical College and Teaching Hospital in Mianwali, payment to get idle hospital equipment working, and teaching interns for government schools.
• Jobs: the recruitment ban was relaxed for several departments, and Punjab will host the 14th South Asian Games.

What it means for you

The 162,000 figure is a target, not jobs on offer today. The parts with a direct effect now are the tractor scheme, the housing loans and the relaxed hiring ban, which can open government posts. We will add the official notification and any application dates when the Punjab government publishes them.