Punjab Industrial Estates Development and Management Company (PIEDMC) Tuesday approved Rs 21.59 billion budget for the financial year 2021-22 for PDTRC, Board of Managements of Sundar, Quaid-e-Azam and Multan Industrial estates.
The budget was approved in the 150th meeting of the Board of Directors of PIEDMC presided over by Chairman Syed Nabil Hashmi. PIEDMC has successfully achieved the revenue targets of the ongoing financial year. Board Directors Syed Tariq Siraj Jafri, Arif Qasim, Ahsan Mehmood Butt, Usman Aslam Malik, Shahid Hussain Tarar, M Anees Khawaja, Dr Sameera Rehman, CEO Ali Moazzam Syed, Presidents of BOMs Sundar and Multan, Haroon Ali Khan, Hussain Afzal, CEO PBIT Dr Arfa Iqbal and concerned officers of finance, labour and industries departments were amongst the attendees.
PIEDMC, initially conceived by Jehangir Khan Tareen when he was an advisor to the Pervaiz Illahi government in 2002, in Musharraf era, has proved to be one of the most successful examples of a Public-Private Partnership. Since 2002, its accomplishments in the form of estates like Sundar Industrial Estate, Multan Industrial Estate & QIE serve as successful and completed model projects.
QBP- PIEDMC’s much-anticipated SEZ
Quaid e Azam Business Park, connected with M2 near Sheikhupura, is being developed by Punjab Industrial Estates Development & Management Company (PIEDMC), which has previously launched nine industrial zones, including the much-celebrated Sunder Industrial Estate.
This modern industrial estate being launched by PIEDMC enjoys the status of a special economic zone (SEZ) and is said to have the capacity to generate two hundred and fifty thousand new jobs for skilled and unskilled workers. Apart from being an SEZ, its strategic location, size and facilities are additional attractions for local and foreign investors.
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Located right on the M2, it promises easy access not only to human resource, but also markets of the neighboring city of Sheikhupura (population: 450,000) and large industrial towns like Gujranwala (population: 2 million), and the provincial capital Lahore (population: 11 million). The modern features it offers for manufacturing, assembling, and product selling also make it an attractive choice for the businessmen.
PIEDMC’s large industrial estate, spread over 1536 acres of land once completed as per its envisaged master plan and business concept, is expected to attract investments of over Rs. 250 billion. Location determines the potential of an industrial estate. It should have access to many alternative transportation modes such as train stations, national highways or even ports.
The higher the number of different transportation modes, the higher the opportunity for the businesses inside an estate. The QABP is attracting many investors due to its optimal location as it is only 6 KM from the nearest railway station, 42 KM from the nearest dry port (Lahore) and 55 KM from the closest airport (Lahore).