Punjab Industrial Estates Development and Management Company (PIEDMC) Chairman S.M. Tanvir said here Wednesday that the Company had entered into an agreement with Punjab government to retire a loan of Rs 1035 million given to it as seed money to kick start the company’s operations in 2004. He said that in 2003, Punjab government had established the Company with a model of Public-Private Partnership , dominated by private sector, to achieve orderly planned and rapid industrialization in the province. The PIEDMC, he added, had actively participated in recent industrial developments and was successfully running four industrial estates and developing another five in different parts of Punjab. He mentioned that development of Sundar Industrial Estate was assigned as an initial project to PIEDMC in 2004, and presently, the SIE had achieved 70 percent of its colonization and providing employment opportunities to approximately 30,000 skilled labour. S.M. Tanvir said the PIEDMC had already started new projects like Rahim Yar Khan , Vehari and Bhalwal Industrial Estates and all the three projects were 100 percent financed by the Company, which was also developing its upcoming projects. Another two major projects had also been launched ( Quaid-e-Azam Solar Park and Punjab Apparel Park ), he said. ”PIEDMC has achieved the unprecedented and important milestone to retire the government loan and it is an exemplary benchmark of good governance by repaying its financial obligations,“ he added. He lauded the efforts of Punjab Chief Minister Muhammad Shahbaz Sharif under whose leadership, the PIEDMC had achieved this landmark in the history of Punjab and it was very first example to retire a government loan by a public-private partnership entity.
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