Power cost jumps by 82.5 percent in 2011-12: PIE

The cost of electricity had increased by 82.5 percent while administrative expenses decreased by 26 percent during the financial year 2011-12 against 2010-11, an audit report reviewed by the Punjab Industrial Estates (PIE) said on Saturday. The Board of Directors of the Punjab Industrial Estates Development and Management Company reviewed the audit report for 2012 regarding projects relating to the establishment of industrial estates at a cost of Rs 6 billion in the province.
Chairman of the Punjab Industrial Estates (PIE) S M Tanveer presided over the meeting. During the year under review, the cost of electricity stayed at Rs 711,918,561 against Rs 389,901,939 in 2010. S M Tanveer briefed the meeting that PIE was planning to set up eight new industrial estates in the province in a few years.