LAHORE: The Punjab government has approved to set up a multi-purpose business center covering an area of 300,000 square feet with state-of-the-art facilities at Quaid-e-Azam Business Park under the management of Punjab Industrial Estates Development and Management Company (PIEDMC).

The groundbreaking ceremony will be held soon. Corporate offices, conference rooms, expo centers, multipurpose halls, showrooms, hotels, one window center and factory outlets will be set up in the multi-storey multi-purpose business center.

In view of the growing need for technology in business growth, special incentives will be given to IT related individuals and companies in the business center. Chairman PIEDMC Syed Nabil Hashmi revealed while giving a briefing to a delegation of industrialists. CEO PIEDMC Ali Moazzam Syed was also present on the occasion.

Syed Nabil Hashmi said that 675 industrial plots ranging from 0.5 acres to 4 acres have been constructed in Quaid-e-Azam Business Park spread over an area of 1536 acres at Sheikhupura on Lahore-Islamabad Motorway. Due to the speed and quality of PIEDMC’s development work, manufacturers are taking keen interest in the project. That is why more than 200 acres of plots have been sold in a short span of time while dozens of applications are in the process of approval.

He said that an agreement has been reached with Sui Northern Gas Company to supply RLNG (Regasified Liquefied Natural Gas) in Quaid-e-Azam Business Park and NHA to set up an interchange on the motorway for easy and direct access to the park. Concessions and incentives have been approved for industrialists wishing to purchase plots of 25 acres or more in the park. Completion of this project will provide employment to 500,000 people. Due to its usefulness, this project will prove to be a game changer for the economic development of Punjab, he added.

Copyright Business Recorder, 2021