PIE speeds up construction work of Vehari Industrial Estate
LAHORE
The Board of Directors of Punjab Industrial Estates has decided to speed up the construction work of Vehari Industrial Estate and to complete it during current financial year at Vehari District. In a row it is the third Industrial Estate, which would be completed during financial year 2012-13, followings Rahim Yar Khan and Bhalwal Industrial Estates in the province of Punjab.
This was stated by Chairman Punjab Industrial Estates Development and Management Company while talking to media after the BOD meeting. He said that BOD had given go ahead signal to certain measures which would expedite establishment of Vehari Industrial Estate very soon.
This came in the back drop of Punjab Chief Minister Mian Muhammad Shahbaz Sharif making a special allocation of Rs. 300 million for said project the Chairman PIEDMC remarked. Chairman PIEDMC SM Tanveer told that the Vehari Industrial Estate would be spread over 375 Acres and Govt. of Punjab had already provided a state land for this purpose. It may be recalled that PIEDMC, which is premier infrastructure development organization of the province, is paying special attention to less developed areas and aims to establish 36 Industrial Estates in the province. PIE will develop Infrastructure facilities like roads, electricity, water supply, waste disposal system and insist prospective industrialists to setup their projects in Vehari Industrial Estate belonging to sectors like Textile units ,Ginning, Food Processing, Handicrafts, Shoe industry, Cottage industry, Artificial Jewellery, Agro based industry, Ware houses, to support industry of all these stated sectors, says Chairman PIEDMC.
SM Tanveer Chairman PIEDMC informed that all the industrial units set up at Vehari Industrial Estate would have income tax holiday for one year to the zone developers and five years to the zone investors. Besides that all formalities would be provided through one window operation. He said that the estimated development cost of Vehari Industrial Estate Phase-I would be Rs. 1,000 million.