Lahore: According to media sources, the Punjab Industrial Estates Development and Management Company (PIEDMC) announced the release of PKR 3 billion for six industrial estate development projects in the province on Monday (August 30).

PIEDMC Chairman Syed Nabil Hashmi gave his consent during the 151st Board of Directors meeting. Arif Qasim, Shahid Hussain Tarar, Syed Tariq Siraj Jafri, M Anees Khawaja, Usman Aslam Malik, Dr Sameera Rehman, Ahsan Mehmood Butt, CEO Punjab Board of Investment and Trade (PBIT) Dr Arfa Iqbal, Chief Executive Officer (CEO) Ali Moazzam Syed, and other concerned officers from the industries, labour, and finance departments attended the meeting.

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The details of the industrial estate development projects are as follows:

  • PKR 1.015 billion reserved for development works of Bahawalpur Industrial Zone
  • PKR 250 million was kept aside for the establishment of 133 KV grid stations in the Bhalwal Industrial Zone
  • PKR 450 million for development of state-of-the-art auto technology park at Quaid-e-Azam Business Park
  • PKR 1 billion set aside for civil works of Quaid-e-Azam Business Park
  • PKR 50 million approved for a feasibility study of Sialkot Industrial Zone
  • PKR 100 million approved for bioequivalence facility in Pakistan Drugs Testing and Research Center

Security services in industrial zones, the establishment of training and internship programmes for university students, and a 5% service fee exemption on plot returns in Vehari, Bhalwal, and Rahim Yar Khan (RYK) Industrial Zones were all authorised at the meeting. Aside from that, the 150th meeting’s proceedings were also accepted.

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The PIEDMC chairman stated to the audience that the PIEDMC was assisting companies in the industrial zones through one-stop shopping. According to reports, the PBIT has ordered the PIEDMC to finish development work in special economic zones including as Bahawalpur, Rahim Yar Khan, Vehari, and the Quaid-e-Azam Business Park.

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