The Punjab Industrial Estates Management & Development Company (PIEDMC) has decided to convert Quaid-e- Azam Apparel Park to a multi facet Business Park, besides approval of 220-KV Grid for Sundar Industrial estate and constitution of new Board for Punjab Drug testing and Research Center.
The decision were taken unanimously during a meeting of BOD of Punjab Industrial Estates Development & Management Company (PIEDMC), held under the Chairmanship of Syed Nabeel Hashmi, at its head office.
The BOD decided to revise the name of Quaid-e-Azam Apparel Park to Quaid-e-Azam Business Park and approved a comprehensive development and business plan of the Business Park. Before the change, it was scheduled to work for a specific sector but now other industrial sectors will be allowed to invest and set up their factories. The QABP is already an approved Special Economic Zone located at Lahore Islamabad motorway and also close to Lahore Sheikhupura road.
In order to resolve the Electricity issue of Sundar Industrial estate, Lahore working under control of PIEDMC, the BOD approved a new permanent 220-KV Grid and allocated land for its construction. GPS meters will be installed in all future electric connections and previous connections shall be updated with a timeline. The BOD also approved net metering policy for Sundar Industrial Estate and dual carriageway for Sundar road.
The BOD decided to construct a flyover for Quaid-e-Azam Industrial Estates, Kot lakhpat, Lahore.
The BOD accorded approval to constitute a new Board for The Punjab Drug Testing & Research Center; it is the first of its nature to be certified by WHO. Appropriate funding was also approved so that the facility could play its due role in supporting the Pakistan’s Pharma industry.
The Board further acknowledged and recognized the change in business environment and the need to offer more conducive and supportive customer friendly facilities and policies for all eight industrial estates being run by PIEDMC, announcing its intention to develop Special Economic Zones on a fast track. Chairman PIEDMC noted and thanked the Chief Minister Usman Buzdar, Minister of Industries, Punjab, Mian Aslam Iqbal and allied government agencies for their support.
ECC asks PC to go ahead with NPPMCL privatization
ISLAMABAD, Nov 08 (INP): The Economic Coordination Committee (ECC) of the Cabinet has given go-ahead to the Privatization Commission (PC) to fast-track the privatization of National Power Parks Management Company (NPPMCL) while the issues related to review and adjustment of risk allocation under the Power Purchase Agreement would be considered again in the next ECC meeting for a final decision.
The instructions were passed during a meeting of the Economic Coordination Committee of the Cabinet held on Friday at the Q Block with Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh in the chair.
In the meeting, the ECC noted that change in the percentage of gas supply to these plants managed by the National Power Parks Management Company would not affect the privatization of the company as the capacity payments of both the plants were ensured under the PPA. Therefore, the ECC decided that Privatization Commission should go ahead with its transaction.
The ECC further observed that the reallocation of gas to other sectors could be considered in the next meeting wherein a detailed proposal in this regard would be presented by the Privatization Commission.