LAHORE, June 24: Federal Industries and Production Minister Jehangir Tareen said on Friday some 30 companies setting up their units at the Sundar Industrial Estate are expected to start production by March next year.

Speaking to newsmen at the SIE, he said the infrastructure of the estate would be completed by the end the year. Some 40 per cent work had already been completed, he said. The infrastructure construction work was progressing according to schedule, he said.

He said some 30 companies had already begun constructing their units at the estate.

He said private investors were expected to invest Rs30 billion in different projects in the SIE and generate about 60,000 direct and 600,000 indirect jobs once the estate was fully developed.

The estate is being developed by the provincial government through the Punjab Industrial Development and Management Company.

Mr Tareen said the PIEDMC had also successfully rehabilitated the industrial estate in Multan. He said new industries were being set up there.

He said the federal government had formed the National Industrial Park Company which was developing an industrial estate spread over an area of 250 acres in Karachi. Another estate would be set up on the Pakistan Steel Mills land.

He said the cement production was expected to double in the next couple of years. He said the government was taking measures to bring down the prices of cement from all time high of Rs325 or more per bag.

He said the government had also taken budgetary measures to eliminate premium on new cars