Lahore: The Punjab Industrial Estates Development and Management Company (PIEDMC) on Monday (March 28) granted special zone enterprise status to 16 companies, news sources reported. The designation was conferred to enterprises that purchased plots in four Special Economic Zones (SEZs) of the province.
PIEDMC Chief Executive Officer (CEO) Ali Moazzam Syed approved the enterprise status during a board meeting. According to management, the change of status would result in an investment of PKR 27 billion and job prospects for locals. As per the details, nine enterprises from Quaid-e-Azam Business Park, four from Rahim Yar Khan Industrial Zone, three from Vehari Industrial Zone, and three from Bhalwal Industrial Estate have received enterprise status.
PIEDMC had recently requested Expressions of Interest (EoI) from industrialists in several SEZs across the province, offering tax benefits on investment and a one-time machinery import tax rebate. The Punjab Industrial Estate Development and Management Corporation (PIEDMC) presently manages eight SEZs. All SEZs have been developed under the China Pakistan Economic Corridor (CPEC) to boost industrialisation and develop export-oriented industries.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
