Lahore: The Punjab Industrial Estate Development and Management Company (PIEDMC) has planned to expedite work on new industrial parks in the province, a news source reported. The decision was taken to ensure entrepreneurs that they will get quick access to the industrial land, so that they may start development there.
For this purpose, the PIEDMC is looking to revive Quaid-e-Azam Apparel Park project in Lahore, and increase the pace of the work to develop the Bahawalpur Business Park. As per the PIEDMC Chairman Syed Nabeel Hashmi, work on these projects will start in March 2020.
Under the new plan, the PIEDMC will bifurcate the Quaid-e-Azam Apparel Park to set up industries, except for the textile sector. The idea to set up the apparel park was conceived back in 2013 to attract Chinese firms, so that they may shift their apparel manufacturing units to Pakistan. This project is estimated to cost PKR 27 billion, out of which the Punjab govt will provide a loan of PKR 14.55 billion, while the PIEDMC will generate the remaining funds.
