PIEDMC To Hand Over Possession Of Plots To Industrial Entrepreneurs

LAHORE, (UrduPoint / Pakistan Point News - 17th Nov, 2020 ) :Punjab Industrial Estates Development and Management Company (PIEDMC) on Tuesday decided to hand over possession of plots to industrial entrepreneurs on preferential basis, in all the economic zones established by PIEDMC in the province.

The object of the preference is to speed up industrialization process and provide facilities to potential industrialists and investors. This decision was taken in the 145th meeting of PIEDMC board of Directors (BoD) held here with its chairman Syed Nabeel Hashmi in the chair. The BoD also approved a concessional package to all those investors who would purchase more than 25 acres of land for their industrial set-ups in Quaid-i-Azam business Park (QABP). Industrialists interested in setting up industrial units on more than 25 acres plots should be provided relaxed payment plan.

After the meeting, Hashmi told media that Rs. 1250 million would be utilized for establishment of Bahawalpur Industrial Estate (BWPIE), second biggest industrial estate after Multan in South Punjab and a demand has been raised to the provincial government in this regard.

This industrial estate would help bring less developed area at par with other parts of the province of Punjab and usher in an era of development according to the vision of Prime Minister Imran Khan.

The meeting also decided to set up advisory boards for Quaid-e-Azam Business Park and Rahim Yar Khan Industrial zones of Punjab. Advisory boards members include public representatives and experts from various economic fields and will be nominated for a period of one year. He said that these members would serve for industrial development and improvement in both the industrial zones. Besides, the meeting also approved a plan for supply of electricity to five industrial estates in the province including three special economic zones, Quaid-e-Azam Business Park and Sundar Industrial Estate.

Nabeel Hashmi also thanked Punjab Chief Minister Usman Buzdar for turning Punjab as a hub of industrial activities by establishing new industrial estates and economic zones. The BOD also expressed its satisfaction over facilities being provided in all the industrial estates like electricity, water and sewerage etc.