Provincial Industries and Investment Minister, Muhammad Ajmal Cheema has said that Sundar Industrial Estate (SIE) would be instrumental in increasing the provincial GDP (gross domestic production) and Rs 100 billion investment, was expected in next three years.
Talking to newsmen, Cheema appreciated the developmental work done by Punjab Industrial Estates Management Company at the estate. He said that production of cement had increased by 160 percent over the last few years, reflecting more and more economic activity. Chairman PIE, Mohsin M. Syed and Directors PIE, Mansoor Abbas and Saeed A. Khan were also present on the occasion.
The Minister hoped that total volume of investment at SIE would touch the mark of Rs100 billion within 3 years. The estate had so far attracted investment worth Rs8 billion.
About Punjab Government's efforts to replicate SIE model in other parts of the province, he said that Faisalabad Industrial Estates Development and Management Company (FIEDMC) had been set up. "Faisalabad will soon have a Garments city and Textile city on public-private partnership basis," he said. He said the IInd phase of Multan Industrial Estate (MIE) will also been launched with an objective to expedite the process of industrialisation in Southern Punjab.
To a question, Cheema said the annual loan disbursement by the Punjab Small Industries Corporation (PSIC) had touched the mark of Rs3 billion against Rs500 million few years ago.