By Muhammad Saleem
LAHORE, October 26 (Wealth Pakistan) — The Punjab Industries Department has requested Rs15 billion from the provincial government to acquire land for the new Sialkot Industrial Estate Punjab. The project aims to boost industrial capacity in one of the country’s most productive export regions.
Chief Minister Maryam Nawaz approved the establishment of the estate during a meeting held earlier this week. She directed the Industries Department to complete all formalities by October 30.
Funding plan and financing options
Speaking to Wealth Pakistan, former Sialkot Chamber of Commerce and Industry (SCCI) president Ikramul Haq said the Industries Department was preparing a detailed funding proposal for submission to the provincial cabinet. He added that Secretary Industries Omar Masood chaired a meeting to finalise the summary.
According to Haq, the department will request the chief minister to release Rs15 billion immediately. Two financing options are under review. The government may provide direct funding or obtain a loan from the Bank of Punjab.
The meeting was attended by SCCI President Syed Ahtesham Mazhar, local industrialists, and senior officials from several provincial departments. These included the Punjab Industrial Estates Development and Management Company and the Industries Department.
Haq explained that the land cost would later be recovered from allottees in instalments over three years. He said the model follows the approach used in the Sundar and Faisalabad Industrial Estates.
Boosting exports and new opportunities
He stressed that the Sialkot Industrial Estate Punjab is essential for achieving Pakistan’s export goals. “Sialkot’s exports stand at around 2.75 billion dollars and have been stagnant for five years,” he said.
He noted that the city’s business community has assured both the prime minister and chief minister that exports could reach 10 billion dollars by 2050 once the new zone becomes operational.
The proposed estate will cover 1,406 acres. Maryam Nawaz has expressed full commitment to launching the project without delay. She termed it a cornerstone of Punjab’s industrial growth plan.
Addressing long-standing regional challenges
During the meeting, officials briefed industrialists on the chief minister’s concern over Sialkot’s long neglect. Since 1961, the city has had only one small industrial estate, serving just a fraction of its exporters.
“The chief minister has vowed to personally inaugurate the new estate and ensure Sialkot gets its fair share of industrial development,” Haq said.
He added that SCCI representatives sought clarification about reports linking the project to Saudi investors. The Industries Department clarified that the project is primarily for existing industries in Sialkot and local exporters.
Sectors to benefit and expected impact
Haq said five major sectors — surgical, sports, leather, garments, and gloves — will benefit directly from the new zone. The relocation of factories from congested city areas will help these industries scale up from small to medium and large enterprises.
In addition, the new industrial area will improve logistics, reduce traffic within the city, and create thousands of new jobs. As a result, Sialkot Industrial Estate Punjab is expected to become a key driver of export-led growth in the province.