After supporting
GoPb initiative for creating self-employment opportunities for the educated unemployed youth through financing of 20,000 vehicles for commercial use in year 2011-2012, financing of 50,000 more vehicles during year 2015-2016 has been achieved under Apna Rozgar Scheme of
GoPb.
In addition to monitoring trends, the monthly meetings help the executive office and the GOPB avoid surprises during budget development, since staff should already know which agencies will need and request more resources.
For example, the Department of Agriculture resisted the balanced scorecard system at first, but it now has a high-quality scorecard that is used for internal management as well as for reporting monthly results to the GOPB and the executive office.
Project was sponsored by Agency for Barani Areas Development (ABAD), Planning and Development (P and D) Department, Government of the Punjab (
GoPb).
According to a top level man in Punjab Agriculture Department, GoPb is also launching a scheme for large scale mechanization of farming.
GoPb is also working on a Bio-saline project for South Punjab to rehabilitate saline and salt affected soils.
The financial viability created through capital management measures and superb performance of the Bank in the past few years has enabled the Bank to take an important step of fully providing for the legacy Non-performing loans portfolio (NPLs), covered through Letters of Comfort (LOCs) issued by the Government of Punjab (
GOPb), as of December 31, 2017 i.e.
It was due to PIE management's efforts that
GoPb abolished Capital Value Tax.
The ratings primarily reflect association of the bank with the Government of Punjab (
GoPb) as majority shareholder, which has demonstrated continued commitment and support in the dire need.
Its construction would start soon after
GoPb releases funds.
Sources said that the idea was conceived in April 2010 at a meeting of some
GoPb officials.