LAHORE - The Punjab Industrial Estates Development & Management Company (PIEDMC) has decided to hand over possession of plots to industrial entrepreneurs on preferential basis, in all the economic zones established by PIEDMC in the province. PIEDMC Chairman Syed Nabeel Hashmi told media here Sunday that object of the preference is to speed up industrialization process and provide facilities to potential industrialists and investors. He added that 145th meeting of PIEDMC’s board of directors 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. He said 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 Govt of Punjab 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 PM Imran Khan. The BoD meeting, he added, 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 Punjab province including three special economic zones, Quaid-e-Azam Business Park and Sundar Industrial Estate. Nabeel Hashmi thanked CM Punjab Usman Buzdar for his efforts to establish the province of Punjab as a hub of industrial activities of the country by establishing new industrial estates and economic zones in the province.