Punjab Industrial Estates Development and Management Company (PIEDMC) has announced to establishment modernized industrial zone on 12 hundred acres at Suhan Wali in Sialkot.
In this regard, CEO PIEDMC Ali Moazzam Syed with his team visited Sialkot following the directions of Provincial Minister of Industry and Commerce Mian Aslam Iqbal.
He met the senior leader of Pakistan Tehreek-e-Insaaf Usman Dar and the delegation of the Sialkot Chamber of Commerce and Industry, and comprehensively apprised them about the development of the Sialkot Industrial Zone.
Ali Moazzam Syed said that to achieve the project at the earliest possible time, the land acquisition has been started and the task of preparing the feasibility report has been assigned to Nespak. Keeping in view the nature and need of the industry clusters will be formed in the industrial zone, the CEO said, adding that a separate grid station and water treatment plant will also be constructed.
In response, President Sialkot Chamber Imran Akbar and other officials expressed keen interest and satisfaction with the progress of the industrial zone and assured all possible cooperation.
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Addressing the meeting, Usman Dar said that because of its outstanding location and facilities, Sialkot Industrial Estate will prove to be a game-changer project not only for Sialkot but also for Central Punjab.
Moreover, this project will not only be beneficial for the industrialists but also contribute to providing thousands of new jobs, he remarked.
In the recent past, CEO PIEDMC offered local and foreign investors to establish factories in four special economic zones in Punjab.
Conferencing with the business community at Lahore Chamber of Commerce & Industry, he said that these zones will be a means to make the investment in industrial infrastructure and a service provider to attract and facilitate foreign investment, promote export-oriented growth, integrate local firms into global value chains, and generate employment.
CEO added that these zones would promote technology transfer to local economies, lowering transaction costs for FDI activities, increasing the ease of doing business, contributing to improving the overall investment environment, and rationalization administrative procedures, including the time required to set up operations.