Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain met with the Austrian Ambassador to Pakistan, Wolfgang Oliver Kutschera, at PISC House on Friday, 30 October.
Hussain claimed that small dams can be finished within a period of two to three years. He further asserted that industrial infrastructure in these zones has reached international standards following billions of rupees in investment and continuous efforts. Following an initiative by the Punjab Government, the Federal Government has approved a new industrial policy.
Under this new policy, investors are permitted to lease land for 30 to 50 years to establish industrial units in industrial estates. Hussain said Punjab offers extensive investment opportunities for Austrian investors, particularly within the energy sector and other fields. Kutschera remarked that Austria and Pakistan share decades of diplomatic and economic ties.
The ambassador said Austria would look into opportunities for creating small hydropower projects in Punjab. Austrian Honorary Consul General Sarmad Amin and Managing Director of Punjab Small Industries Corporation Mubeen Elahi attended the meeting. Hussain also highlighted that an IT university and an internationally-standardized furniture college are currently being established in Gujrat.
