Special economic zones being set up in Punjab: minister

LAHORE: Punjab Industry and Commerce Minister Mian Aslam Iqbal has said that special economic zones are being set up in Punjab and the businessmen will be given tax exemptions for 10 years.

He expressed these views while chairing a meeting of Punjab Industrial Estates Development and Management Company (PIEDMC) held here on Friday to review progress on the development works in industrial estates. PIEDMC Chairman Syed Nabil Hashmi, Board members Arif Qasim, Tariq Siraj Jafari, CEO Ali Moazzam Syed, GM Technical Farooq Johri, GM Coordination Omar Saeed and GM Business Development Amna Faisal Shah were present in the meeting.

While addressing the meeting, the Minister said that in line with the vision of the Prime Minister, all resources are being utilized for industrial development and elimination of unemployment. He directed participants to expedite the development work in Quaid-e-Azam Business Park Sheikhupura and Bahawalpur Industrial Estatem, and complete the work on Rahim Yar Khan grid-station as soon as possible. He also asked them to submit a detailed plan with financial model of Pakistan’s first aqua park in Chunian. He also directed them to start work on establishment of IT Incubation Center in South Punjab.

He also asked the officials to make a comprehensive plan for the construction of residential buildings for the workers in Quaid-e-Azam Business Park Sheikhupura and to provide facilities to the IT sector in the Multipurpose Business Center.

On the occasion, PIEDMC Chairman Syed Nabil Hashmi and CEO Ali Moazzam Syed briefed the Minister on the ongoing works in the industrial estates. Hashmi told him, that PIEDMC is ensuring quality and speedy development work in the industrial estates, and a large number of industrialists are taking interest in buying plots and setting up industries in these industrial estates.

Copyright Business Recorder, 2021