By Muhammad Shahzad, Lahore, Pakistan

LAHORE: The Board of Directors of the Punjab Industrial Estates Development and Management Company (PIEDMC) has approved a Rs44 billion budget for the financial year 2026-27, including Rs15 billion for development projects in industrial zones managed by the company.

The decision was taken during the 177th meeting of the PIEDMC Board of Directors, chaired by Chairman Shahzad Azam Khan.

The Board also approved an additional Rs630 million for Lahore Electric Supply Company (LESCO) for the installation of a transmission line at Quaid-e-Azam Business Park. Another Rs590 million was approved for Multan Electric Power Company (MEPCO) for completion of the grid station in Vehari.

The Board also approved the purchase of transformers for Sundar Industrial Estate and approved the company’s audited accounts up to June 30, 2024.

The meeting further authorized 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 Board would work collectively to further strengthen the company and 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 interests of industrialists and industrial growth in view.

Shahzad Azam Khan said all possible efforts would be made to resolve issues concerning PIEDMC’s industrial zones. He added that all relevant forums and stakeholders would be taken on board to address these issues 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 Azam Syed and relevant officials from the Industries, Finance and Labour departments and TEVTA.