Shafay Hussain Attends PIEDMC Board Meeting

LAHORE, (UrduPoint / Pakistan Point News - 3rd Sep, 2024) Provincial Minister for Industry and Commerce Chaudhry Shafay Hussain visited the Punjab Industrial Estates Development & Management Company (PIEDMC) office and observed the board meeting as a special invitee.

The board approved the Annual budget of 53 billion for the financial year 2024-2025. The development funds of 9 billion are allocated for the Quaid-e-Azam business Park and 2 billion for the Bahawalpur Industrial Estate.

Chairman Punjab Industrial Estates Development and Management Company Javed Iqbal presided over the 166th board meeting of the company. The board approved to release funds for the purchase of land for the expansion of Multan Industrial Estate, the establishment of a police post in Quaid-e-Azam Business Park, a contract for providing security services in industrial estates and funds for the development works of Bahawalpur Industrial Estate.

The meeting approved amendments in the articles of association of PIEDMC, the appointment of external auditors for the audit of the financial year 2022-2023, the revision in operations and maintenance charges of Rahim Yar Khan, Bhalwal, and Vehari Industrial Estates, and the revision of the hiring and reporting structure of the Board of Management.

The board also approved the Centralized Procurement Plan for all BOM’s so the procurement of more than 10 million would be made through the PIEDMC Head Office.

A briefing was given on the current status of the development works of Quaid-e-Azam Business Park and the establishment of Garment City.

Addressing the meeting, Provincial Minister for Industry and Commerce Chaudhry Shafay Hussain said that all possible steps are being taken to provide facilities to the industrialists. Business Facilitation Centers have been established in major cities of Punjab so that all the problems of industrialists can be solved under one roof within a fixed period, he added.

Board Members Shahzad Azam Khan, Sajid Saleem Minhas, Dr. Shahid Raza, Sohail Azhar, Mian Noman Kabir, Ahmed Khan, CEO PIEDMC Ali Muazzam Syed, along with relevant officers of the Department of Industries, Finance and TEVTA also participated in the meeting.