Over Rs64 million approved for power, business zones

LAHORE: The Board of Punjab Industrial Estates Development and Management Company has approved release of Rs55 million to Fesco for construction of 132KV grid station in Bhalwal Industrial Zone and Rs9.6 million to Lesco for feeder connection in Chunian Aqua Business Park.

The approval was given in the 152nd meeting of the Board of Directors of PIEDMC chaired by PIEDMC Chairman Syed Nabil Hashmi. The board expressed satisfaction on the PIEDMC’s last one year’s performance.

On the recommendations of the procurement committee, the board also approved Rs5.4 million for consultancy services of disposal stations in Vehari and Rahimyar Khan industrial zones, Rs30 million for transaction advisory of Muzaffargarh Industrial Zone, renewal of contracts of transport service and medical insurance for staff. The meeting approved the proceedings of the 151st board meeting.

It was informed that the PIEDMC earned Rs12 billion from QABP, Rahimyar Khan, Vehari and Bhalwal Industrial zones, started development works of Quaid-e-Azam Business Park, Bahawalpur Industrial Zone and transformed Chunian Industrial Zone into Aqua Business Park. Work on net metering and expansion project was also started in Sundar Industrial Estate and for the first time in the history of PIEDMC annual budget was approved before the commencement of new financial year, under corporate social responsibility construction work on medical trauma centre and management training programme was also launched.

Nabil Hashmi said that on the directions of Minister for Industries and Commerce Aslam Iqbal, PIEDMC was 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. The industrialists are giving preference to PIEDMC-managed zones for their business. The board directed the management to timely complete the development works of Quaid-e-Azam Business Park, Bahawalpur and Chunian Aqua Business Park.