LAHORE: Punjab Industrial Estates Development and Management Company (PIEDMC) Chairman SM Tanveer has welcomed the inclusion of five industrial estates in special economic zone (SEZ) and exemption of duty/taxes on the machinery imported for 10 years under the China-Pakistan Economic Corridor (CPEC) project.
“It would boost industrialisation in the Punjab , particularly in the Southern parts,” he hoped.
He hailed the Chief Minister Punjab Shahbaz Sharif for winning the status of special economic zone for five PIEDMC industrial estates under the CPEC. It would lead to creation of more than 150,000 jobs and billions of rupees investment in respective industrial estates.
“The province of Punjab would fast transform into a prosperous province with this single step,” he added.
The federal government has upgraded the status of five industrial estates of PIEDMC to special economic zone, which included Multan Industrial Estate phase-II, 450-acre Rahim Yar Industrial Estate, 400-acre Bhalwal Industrial Estate and Mianwali, Rawalpindi and Dera Ghazi Khan industrial estates.
It was added that the machinery imported and the income generated in these special economic zones would be duty/taxes exempted for next 10 years.
