LAHORE: The Board of Directors of Punjab Industrial Estates Development and Management Company (PIEDMC) has expressed concern over the delay in granting the status of enterprise to special economic zones (SEZs) and urged the federal and provincial governments to intervene as the issue is costing the company heavily.

In its 153rd meeting presided by PIEDMC chairman Syed Nabeel Hashmi on Tuesday, the board was informed that due to the delaying tactics on the part of the departments concerned in granting the enterprise status to SEZs, the company had to repay more than Rs500 million to the industrialists, while applications for refunds of Rs5 billion more had been received by it.

Expressing concern over the issue, the board directed that the matter be taken up at all forums of the federal and Punjab governments.

The participants of the meeting were also briefed on new industrial estates at Sialkot, Muzaffargarh and Rawalpindi under the management of PIEDMC.

The meeting approved extension of legal panel for PIEDMC, construction of new 132kV grid stations at Multan and Sundar industrial estates and payment for bank guarantee and annual fee to the National Electric Power Regulatory Authority for electricity distribution licence in Vehari Industrial Estate.

Published in Dawn, December 1st, 2021