LAHORE - Punjab Minister for Industry, Commerce and Trade Mian Anjum Nisar has said that industrialisation a key element to create employment opportunities that would alleviate poverty and bring  economic growth in the province. He expressed these views while chairing a meeting  at the new Minister Block's Committee Room here on Friday. He appreciated the role of management of Punjab Industrial Estates Development and Management Company (PIEDMC) for rapid industrialisation in Punjab.

He said that state-of-the-art facilities, provided by the PIEDMC at the industrial estates is key to attracting local as well as foreign investors to come to Pakistan  and invest here.

Earlier, Chairman PIEDMC Abdul Basit gave a briefing  about state-of-the-art facilities being provided to industrialists for setting up industrial units in different industrial estates in Punjab.

He said the PIEDMC had developed nine Industrial Estates in the province, where 950 Industries were in production phase and 353 were under-construction. The PIEDMC generated more than 840,000 direct and 1,680,000 indirect employment opportunities through industrialisation, he added.

"The PIEDMC has attracted more than Rs50 billion of local investment and US$1 billion of foreign investment," he said, adding the the PIEDMC was also contributing more than  Rs 3 billion per annum in the shape of taxes. He said that PIEDMC had already completed and submitted  applications of Special Economic Zone for Rahim Yar Khan,  Vehari & Bhalwal Industrial Estates. He hoped that all three  industrial estates would soon get the status of Special Economic Zone that helps to boost industrialisation in these industrial estates.

Chairman PIEDMC Abdul Basit and other officials related to the management of Punjab Industrial Estates Development and Management Company were present in the meeting. APP