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PIEDMC approves Rs3bn for six development projects

By Staff Reporter | Business Recorder Aug 31, 2021

LAHORE: The 151st meeting of the Board of Directors of Punjab Industrial Estates Development and Management Company (PIEDMC) was held under the Chairmanship of Syed Nabil Hashmi.

The meeting approved the release of funds of Rs3000 million for six projects of the current development programme as per the recommendations of the Development Working Party.

According to the documents, Rs1000 million are approved for the civil works of Quaid-e-Azam Business Park, Rs1015 million are approved for the development works of Bahawalpur Industrial Zone, Rs50 million are approved for feasibility study of Sialkot Industrial Zone, Rs450 million are approved for the construction of state-of-the-art auto technology park at Quaid-e-Azam Business Park, Rs100 million are approved to provide bio equivalence facility in PDTRC Sundar Industrial Estate, and Rs250 million are approved for the construction of 133 KV grid station in Bhalwal Industrial Zone.

The meeting also approved the launch of training and internship programmes for university students, provision of security services in industrial zones, exemption of five percent service charges on return of plots in Rahim Yar Khan, Bhalwal and Vehari Industrial Zones, due to the restrictions of Special Economic Zones. The meeting also approved the proceedings of the 150th board meeting.

While addressing the meeting, Chairman PIEDMC Syed Nabil Hashmi said that on the directions of MinistBusiness Recorderer Industries and Commerce Mian Aslam Iqbal, PIEDMC is facilitating business through one window operations in its managed industrial zones. Ease of Doing Business Index in these zones is one of the best in Pakistan and that is why industrialists are giving preference to PIEDMC managed zones for their business.

The Board directed the management to complete the development works of Quaid-e-Azam Business Park, Bahawalpur, Vehari, Rahim Yar Khan and other Special Economic Zones in given time. Board Directors Syed Tariq Siraj Jafri, Arif Qasim, Ahsan Mehmood Butt, Usman Aslam Malik, Shahid Hussain Tarar, Muhammad Anees Khawaja, Dr Sameera Rehman, CEO Ali Moazzam Syed, CEO PBIT Dr Arfa Iqbal and concerned officers of finance, labour and industries departments were also present in the meeting.

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