The rehabilitation of Lahore Township Industrial Estate (LTIE) was expected to start in the first week of December at a total cost of Rs 600 million, and National Engineering Services Pakistan (NESPAK) would carry out the rehabilitation programme which has submitted a plan to the Punjab government.
Quaid-e-Azam Industrial Estate (QIE), new name of LTIE, Board of Directors Chairman Almas Hyder disclosed this while talking to Business Recorder here on Thursday. Almas further said Punjab government had already sanctioned Rs 200 million for the rehabilitation programme while the remaining amount was expected to be released gradually as the work progressed.
"The work on QIE would be carried out in three shifts a day for speedy completion, and it was expected to be completed by May 2005," he added.
According to him, with the initial amount of Rs 200 million, rehabilitation of roads, sewerage and water supply systems had been put on top priority. QIE, working under the management umbrella of Punjab Industrial Estate Development and Management Company (PIED&MC), would be revamped to the standards of industrial estates in developed countries.
He averred there were 440 plots in the Estate spread over 527 acres of land, and at present 80 percent of them have installed industrial units that were in operation. However, we were persuading the remaining 20 percent to install industrial units and operate, otherwise forego their plots, he added.
Almas was optimist that new job opportunities would be created after the revival of closed units and opening of new units which was the vision of Punjab Chief Minister Chaudhry Pervaiz Elahi.
He said the Chief Minister realised the importance of job creation that would help in alleviating poverty, hence he included this in his Vision 2020 and was endeavouring to attain that goal by introducing business friendly policy. This would ultimately lead to creation of job opportunities, he maintained.
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