Minister for Industries and Commerce, Chaudhry Shafay Hussain, has announced plans to set up a solar panel manufacturing factory in Punjab.
This announcement came during a meeting with a delegation from the Chinese solar company, Zonergy Corporation. The discussions focused on exploring investment opportunities and the various incentives available for foreign investors.
During the meeting, Shafay Hussain emphasized the special benefits that Pakistan offers to attract foreign investments.
These benefits include a 10-year exemption from income tax and the ability to import machinery without paying duties. These incentives are designed to make Pakistan an attractive destination for companies looking to invest in the region.
Zonergy Corporation’s General Manager, Shao Wei, attended the meeting and spoke about Zonergy’s extensive experience in the solar power industry.
He expressed the company’s interest in expanding its investments in Punjab, recognizing the region’s potential for growth in renewable energy. Shao Wei highlighted that Zonergy is eager to bring its expertise to Pakistan and contribute to the development of the local solar power sector.
In addition to discussing the solar panel manufacturing factory, the meeting also covered the development of Garment City near Lahore. This project is part of the broader strategy to boost industrial growth in the region.
