In a meeting under the chairmanship of Syed Nabeel Hashmi, the special economic zone committee of the Punjab Industrial Estates Development and Management Company (PIEDMC) has awarded the status of special zone enterprise to the owners of industrial plots in Quaid-e-Azam Business Park.
This status was awarded to Rumi Fabrics, Fabrizo, Petpak Films, Chromatics, Global Packaging Films, Starlet Innovations, Ajmer Foods, Back Packaging, and AHS Pvt Ltd. These companies are expected to bring in investments worth 20 billion that would create thousands of new jobs.
PIEDMC chairman ordered the management to speed up the development works in all industrial zones especially Quaid-e-Azam Business Park, and provide timely and best services to the customers through one window operations. He said industries with special enterprise status would be given one-time exemption for machinery import and income tax exemption for 10 years.
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.
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.
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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).
Recently, Punjab Minister for Industries and Commerce Mian Aslam Iqbal revealed that the government of Punjab is going to set up an Auto Parts Technology Park in Quaid-e-Azam business park to support the growing industrialisation.
The Auto Parts Technology Park would be established on nine acres of land and it would assist the auto sector in terms of product design, training centres, parts manufacturing, testing and allied facilities, said Iqbal during a meeting with the members of PIEDMC.