The Punjab Small Industries Corporations (PSIC) has approved restoration of medical allowance that was frozen on the level of June 30, 2011, of the PSIC pensioners. This was decided during a meeting of the PSIC's board held here on Wednesday which was chaired by Punjab Industries Minister Mian Aslam Iqbal. The meeting reviewed pace of work on ongoing schemes of PSIC and the socio-economic effects of these schemes.

It also approved a new post of Senior Director (BS-20 and establishment of PSIC pension funds investment committee. Moreover, agreement for the lease of workshop allotments in craft villages in Lahore and Taxila was also endorsed.

While addressing the meeting, the Minister said that PSIC is being revamped to reduce resources for its schemes. "We are making usage of resources for development schemes transparent. Also, the colonization in industrial estates is the policy of the government but it is deplorable that this policy is not fully implemented," he added. Hence, he directed the concerned official to constitute a committee consisting of PSIC officers and board members and this committee will give its recommendations within two weeks regarding the colonization in industrial estates. "We will ensure colonization in all small industrial estates," he added.

Copyright Business Recorder, 2019