LAHORE: A package with a relaxed payment plan will be provided to all those investors who would purchase more than 25-acre of land for their industrial units at the Quaid-e-Azam Business Park.

Punjab Industrial Estates Development & Management Company (PIEDMC) Chairman Syed Nabeel Hashmi revealed this while speaking at a meeting of Pakistan Plastic Manufacturers Association (PPMA) delegation who met him on Wednesday.

The federal government has granted concession of tax holiday, exemption of duties and taxes on the import of industrial machinery for the Quaid-e-Azam Business Park (QABP). Meanwhile, the electricity supply up to 2.2 megawatt is available for those who are interested to immediately set up their industrial units. Furthermore, the gas pipeline infrastructure is almost ready, he said.

He said consumption of plastic products had reached $ 1.2 trillion globally, while the United States and China are the biggest consumers. There are a lot of opportunities for the local industry to get export orders from both the countries. He offered them to set up plastic manufacturing units in Quaid-e-Azam Business Park.

PIEDMC Chief Operating Officer Ali Muazzam Syed briefed the delegation that an advisory board for Quaid-e-Azam Business Park has been constituted to speed up development work in the park. The Advisory board members include public representatives and experts from various economic fields which would serve for industrial development and improvement in this industrial zone.

Copyright Business Recorder, 2020