Punjab Approves 2 New Pension Schemes for PSIC Employees

In practice, the Punjab Small Industries Corporation has approved two new pension schemes for its employees as part of broader reforms aimed at restructuring its pension system and addressing outstanding financial liabilities.

Key points

• It was developed between 2004 and 2019 and at present has 321 plots, of which four are available.
• In July, the board approved a Rs14.285 billion budget for FY2026-27.
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• The board additionally approved a special relief package for allottees whose plots were cancelled at the Sundar-II Small Industrial Estate.
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Meanwhile, the decisions were taken at a recent PSIC board session, where the corporation additionally agreed to seek a Rs2.5 billion loan from the Punjab administration to meet its pension-related obligations.

In practice, the board approved a schedule for auctioning unused and redundant PSIC properties to strengthen the corporation's finances and improve asset utilisation. Punjab Launches Interest-Free Loans For Women.

PSIC has been auctioning surplus properties and cancelled plots as part of its financial reforms. Its 2026 auction programme covers industrial estates in Sundar-II, Kasur, Gujranwala, Sialkot, Faisalabad, Sargodha, Sahiwal and Bahawalpur, among other locations.

Meanwhile, the board additionally approved a special relief package for allottees whose plots were cancelled at the Sundar-II Small Industrial Estate.

Under the package, eligible allottees will receive a 20 per cent discount on their total outstanding dues, subject to conditions linked to industrial development.

Beneficiaries will be required to complete construction of their factories within six months and commence regular production within two years. They will additionally have to meet all applicable PSIC requirements for industrial units.

Sundar-II is one of PSIC's self-financed industrial estates. It was developed between 2004 and 2019 and at present has 321 plots, of which four are available.

Notably, the latest measures are part of PSIC's broader policy to discourage speculative holding of industrial plots and encourage the development and operation of industrial units. TESCO Employees Obtain Salary Increment.

Notably, the corporation had earlier remarked plots could be cancelled where industrial units were not established in line with its policies.

In practice, the board additionally approved the minutes of its previous gathering and cleared a number of pending administrative matters.

Meanwhile, the latest decisions come as PSIC continues to implement financial and operational reforms.

In July, the board approved a Rs14.285 billion budget for FY2026-27. It additionally approved further backing for retired employees, including a Rs400 million contribution from PSIC resources to its pension fund and an rise in the medical allowance for retired employees. Stay Connected with ProPakistani. Obtain the latest news and stories wherever you prefer. Follow on Google Discover.

In short, punjab Approves 2 New Pension Schemes for PSIC Employees is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.