LAHORE: The Punjab Industrial Estates Development and Management Company (PIEDMC) Board of Directors has approved a Rs44 billion budget for the financial year 2026-27, including Rs15 billion for development works in industrial zones managed by the company.
The approval was given at the 177th meeting of the PIEDMC Board of Directors, chaired by Chairman Shahzad Azam Khan. The board approved an additional Rs630 million for the Lahore Electric Supply Company (LESCO) for installation of a transmission line at Quaid-e-Azam Business Park. It also approved an additional Rs590 million for the Multan Electric Power Company (MEPCO) for completion of a grid station in Vehari.
The board further approved the purchase of transformers for Sundar Industrial Estate and the audited accounts of the company up to June 30, 2024. It also authorised progress on the purchase of land for expansion of Quaid-e-Azam Business Park in accordance with the rules and regulations prescribed by the Punjab Cabinet.
Addressing the meeting, Chairman Shahzad Azam Khan said the company would work collectively to promote industrial development and resolve issues faced by industrialists. “We will work together to take the company forward, and my doors will always remain open for consultation and support,” he said.
He said every decision of the board would be taken in accordance with the law while keeping the welfare of industrialists and industrial growth in view. He added that all possible efforts would be made to resolve issues relating to PIEDMC’s industrial zones, with all relevant forums and stakeholders taken on board.
The meeting was attended by board directors Sajid Saleem Manhas, Mian Nauman Kabir, Muhammad Ahmed Khan, Dr Shahid Raza and Sohail Azhar, besides PIEDMC Chief Operating Officer Ali Azam Syed and officials from the industries, finance and labour departments and TEVTA.
Copyright Business Recorder, 2026
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