PM to inaugurate business park in March

LAHORE: Prime Minister Imran Khan will inaugurate Quaid-e-Azam Business Park, Sheikhupura (QABP) located at close proximity of Lahore-Islamabad Motorway.

In this connection, the groundbreaking ceremony of QABP will be held next month. This was disclosed during 141st meeting of the Board of Directors of Punjab Industrial Estates Development and Management Company under the chairmanship of Syed Nabeel Hashmi here the other day. 

PIEDMC Chairman Syed Nabeel Hashmi gave a detailed briefing on the business plan for the QABP and the same was approved by the Board of Directors. The chairman, while appreciating the keen interest shown by the board members in the business plan, stated that the establishment of the business park will go a long way in realising the concept of state of the art business park fetching foreign direct investment, paving way for not only industrial growth but also providing the vast opportunities of employment in the province. “It will contribute to Pakistan’s GDP, increase exports and would also encourage the import substitution,”  he said. The chairman briefed about the timeline and significance of the project that is expected to create 100,000 jobs opportunities for the people of Punjab during the next five years and is in line with the prime minister’s vision of creating 10 million jobs.

The agenda of ease of doing business was discussed at length and the BoD approved measures like formation of transfer and non-utilization policy for Sundar Industrial Estate, Lahore. The board also approved the Lease Deed Agreement between PIEDMC and NTDC for construction of one 220/132 KV (AIS) grid station at the Sundar Industrial Estate which will resolve the shortage of the electricity at the Sundar Industrial Estate. The board approved a comprehensive tenancy policy and procedure for tenancy in all industrial estates of PIEDMC.

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