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South Punjab Forest Company (SPFC) and Board of Investment (BOI) officials meet to promote forestry investments

South Punjab Forest Company SPFC News Image

March 03, 2017: The officials of South Punjab Forest Company (SPFC) and Board of Investment (BOI) met to promote investments in the forestry sector of Punjab.
The delegation of SPFC headed by Tahir Rasheed, CEO, met Dr. Miftah Ismail, Chairman, BOI; Minister of State; and Special Assistant to the Prime Minister. Tahir Rasheed briefed Dr. Miftah Ismail regarding the investment opportunities in the forestry sector and how it can bring a socio-economic revolution in Punjab.
According to Tahir Rasheed, ‘Fast growing species which are environmentally friendly, will be promoted through this initiative, which will benefit investors in the long-run. The Government of Punjab has notified 134,995 acres of blank forest land to SPFC in six districts across of South Punjab, which will be offered to the private investors for 15 years lease, for tree plantation under Public Private Partnership (PPP) mode. The lease period shall be further extendable to another 15 years term subject to satisfactory performance of the investors.’
Dr. Miftah Ismail welcomed and appreciated the initiative by the Government of Punjab to promote sustainable/commercial forestry investments and hoped that people will be interested to invest in it. Dr. Miftah also suggested that a Special Economic Zone (SEZ) may be created to promote forestry investments that will create job opportunities in the region. Tahir Rasheed appreciated the idea and also agreed to share it with SPFC’s board.
Tahir Rasheed asked Dr. Miftah Ismail for support to engage the business community to promote forestry investments, which Dr. Miftah agreed to do.

Shah Jahan Shah, Additional Secretary/EDG, BOI, who also attended the meeting queried if there are enough measures enacted to prevent encroachments, which Tahir Rasheed responded that robust monitoring will be done in collaboration with the Forestry, Wildlife & Fisheries (FW&F) Department, Government of the Punjab, to prevent any encroachments and ensuring compliance.

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