By Commerce Reporter
LAHORE: Chairman Punjab Industrial Estates Development and Management Company (PIEDMC) Shahzad Azam Khan chaired the 177th meeting of the company’s Board of Directors, where a Rs. 44 billion budget for the financial year 2026-27 was approved.
The Board allocated Rs. 15 billion for development works in industrial zones managed by PIEDMC.
During the meeting, the Board approved an additional Rs. 630 million for LESCO for the installation of a transmission line at Quaid-e-Azam Business Park. It also approved Rs. 590 million for MEPCO for completion of the grid station in Vehari.
The Board further approved the purchase of transformers for Sundar Industrial Estate and approved the company’s audited accounts up to June 30, 2024.
The Board also authorized further progress on the purchase of land for the expansion of Quaid-e-Azam Business Park, in accordance with the rules and regulations prescribed by the Punjab Cabinet.
Addressing the meeting, Chairman PIEDMC Shahzad Azam Khan said the company would work collectively to advance its objectives, adding that his doors would remain open for consultation and support.
He said all decisions of the Board would be taken in accordance with the law while keeping the welfare of industrialists and industrial growth in view. He added that all possible efforts would be made to resolve issues faced by PIEDMC’s industrial zones, with relevant forums and stakeholders taken on board to address these matters effectively.
The meeting was attended by Board Directors Sajid Saleem Manhas, Mian Nauman Kabir, Muhammad Ahmed Khan, Dr. Shahid Raza and Sohail Azhar, along with PIEDMC Chief Operating Officer Ali Muazzam Syed and relevant officials from the Industries, Finance and Labour Departments and TEVTA.