CM Maryam launches Rs2 trillion PIVOT initiative to boost industry, exports

CM Maryam launches Rs2 trillion PIVOT initiative to boost industry, exports

LAHORE: Chief Minister Maryam Nawaz on Friday officially launched the Punjab Innovation for Value, Opportunity and Transformation (PIVOT) Plan 2026-29 – around Rs2 trillion economic strategy aimed at positioning Punjab as an export-led industrial hub. The roadmap targets $6.8 billion in incremental exports, 162,000 new direct jobs and support for over one million families. Speaking at the launch, the chief minister said: “Punjab is ready to move towards a new model of economic growth, driven by industry, innovation, value addition and exports. Our objective is to create an environment where businesses can invest with confidence, industries can expand and our people can access better employment and livelihood opportunities.” She said: “PIVOT will not remain a document of targets and commitments. Its implementation will be tracked, its progress measured and its results assessed. Every initiative must translate into real investment, stronger businesses, more exports and better opportunities for the people of Punjab.” The three-year plan envisages $6.8bn exports, 162,000 direct jobs She said her message to investors and industrialists across Pakistan and around the world was clear --- “Punjab welcomes your investment. We want to work with you, facilitate your businesses and create the conditions in which enterprise can grow. Government will facilitate, industry will lead.” The chief minister said sustainable growth required private investment, a strong industrial base and a partnership in which the public sector enables the private sector to innovate, produce and compete. “PIVOT is designed to turn that partnership into measurable economic progress. Our industries must not be limited to producing more; they must produce better, add greater value and compete in international markets. We want Punjab’s manufacturers to have access to modern technology, reliable energy solutions, quality infrastructure and the financing they need to expand their businesses and exports,” she said and added young people must be prepared for the jobs of tomorrow. Skills development must respond to the actual needs of industry and the changing demands of the economy as training leads to employment, entrepreneurship and better livelihoods. “Investors should spend their time building businesses, creating jobs and expanding production—not navigating unnecessary administrative hurdles. We are working to make government services simpler, more accessible and more transparent.” The launch brought together leading corporate figures, economic policymakers, international development agencies and diplomats. Prominent businessmen Mian Mansha, Arif Habib, Fawad Mukhtar, Zaid Bashir and Osman Khalid Waheed were among those who attended the event, signalling private sector’s engagement with the initiative. State Bank of Pakistan Governor Jameel Ahmad, heads of major commercial banks and financial institutions, members of the diplomatic corps and representatives of key international development partners, including the World Bank, the Asian Development Bank (ADB) and UN also participated in the launch. Senior Minister Marriyum Aurangzeb, Punjab Chief Secretary Zahid Akhtar Zaman, provincial cabinet ministers and administrative secretaries were also present. A primary pillar of the PIVOT framework is the Strategic Trade Enhancement Programme (STEP), supported by a newly introduced digital portal. Under this mechanism, the government envisages Rs300 billion in concessional financing at rates ranging between zero and five per cent for eligible commercial categories, giving businesses access to lower-cost capital for expansion, subject to programme terms and conditions. This financing structure forms part of an overall investment framework combining Rs1,089bn in public investment with a target of Rs906bn in private-sector investment. The plan directs Rs753.7bn towards strengthening industrial output, encouraging value addition and building long-term export competitiveness. To address operational costs and energy challenges, the government has earmarked Rs50bn for solar power installations and Battery Energy Storage Systems (BESS). An additional Rs50bn has been allocated for machinery duty reimbursements to incentivise manufacturers to upgrade factories, adopt advanced technology and meet international quality standards. The programme focuses on key manufacturing value chains, including garments and textiles, sports goods, leather and footwear, surgical instruments, pharmaceuticals, fans, cutlery, steel and ceramics. Modern testing laboratories, certification facilities and plug-and-play industrial infrastructure are also envisaged to help businesses meet international compliance requirements and access export markets. To move agriculture beyond raw commodity production towards higher-value processing, PIVOT includes four specialised agro-processing parks, one each in Sargodha, Khanewal, Okara and Bhakkar. The plan also extends to tourism, digital services and workforce development. To improve the business environment, PIVOT introduces regulatory and administrative reforms aimed at simplifying commercial operations and attracting long-term investment. Through the E-Biz digital initiative, the provincial government aims to digitise 300 public administrative services to make business processes more accessible and transparent. The programme also envisages bringing 2,000 firms onto e-commerce platforms, alongside modernised labour laws, public-private partnership reforms and approved schemes for state land leases across nine productive economic sectors. Execution and accountability are embedded through a central governance model led by a PIVOT Board, presided over by Senior Minister Marriyum Aurangzeb on behalf of the chief minister. Operational coordination will be handled by a dedicated PIVOT Secretariat in the Planning and Development Department, alongside a PIVOT cell within the chief secretary’s office. Deputy commissioners will serve as district-level focal persons. State Bank Governor Jameel Ahmed highlighted major financial milestones, saying SME financing surged 61pc to Rs1.1 trillion by June 2026, serving nearly 326,000 borrowers. He outlined ambitious targets to expand this reach to Rs2 trillion and 775,000 borrowers by fiscal year 2028. He also noted strong momentum in specialised agricultural schemes like Zarkhez and rapid growth in housing finance. He reaffirmed the central bank’s commitment to driving sustainable economic development across Punjab. Mian Muhammad Mansha, chairman of Nishat Group and MCB Bank, pointed to seamless building permissions and praised significant police reforms. “Drivers and locals now report a professional, well-compensated police force operating without street-level corruption,” he said. American Business Forum President Osman Khalid Waheed hailed the PIVOT initiative as the province’s most ambitious economic expansion plan. He hoped the plan would boost global competitiveness across agriculture, manufacturing, technology, and healthcare, while generating over 200,000 skilled jobs through competitive industrial clusters. Gul Ahmed Textiles Director Ziad Bashir highlighted six key drivers of the province’s competitive edge: security, motorway connectivity, reliable energy, digital land records, streamlined regulatory approvals, and a 120-million-strong market larger than any EU nation. Bashir commended the chief minister for delivering on promises and fostering an investor-friendly environment. Pledging full support on behalf of the Pakistan Business Council, he affirmed that Punjab would not walk its ambitious economic growth path alone. Arif Habib Group Chairman Arif Habib commended Punjab’s strategic focus on construction and progress tracking via digital dashboards. Habib credited the chief minister’s use of privatised PIA to inspire improvements in the airline’s service and punctuality. Fatima Group Chairman Fawad Mukhtar expressed confidence that the business community would fully support the initiative, lauding the chief minister’s thorough engagement and declared that this venture represents the economic future of both Punjab and Pakistan. Published in Dawn, October 31st, 2026