Pre-launching of Bhalwal Industrial Estate: MoUs signed between industrialists, Punjab Industrial Estates Development and Management Company

LAHORE: At the Pre-launching of Bhalwal Industrial Estate more than 20 investors and industrialists have inked Memorandum of Understanding (MOUs) with Punjab Industrial Estates Development and Management Company (PIEDMC) at an event organized by Sargodha Chamber of Commerce and Industry here Monday.

On this occasion, the chief guest the Chairman Punjab Industrial Estates Development and Management Company, S.M. Tanveer disclosed that eight industrial estates in the province are being developed in line with the vision of Chief Minister Punjab Mian Muhammad Shahbaz Sharif.

He informed that Bhalwal, Sargodha and its adjoining area was producing more than 52% Citrus of the Punjab and 60% of the total quantity is going waste but setting up of this industrial estate, the country would earn precious foreign exchange and avoid its wastages. 60,000 new jobs directly and indirectly would be created with completion of Bhalwal Industrial Estate, the Chairman Punjab Industrial Estates Development and Management Company, said.

He informed that 280 industrial units will be setup in this estate and would generate Rs. 500 million annually every year as taxes for the Government.

President Sargodha Chamber of Commerce and Industry, Gulzar A. Sheikh , Vice president ,FPCCI, Mian Amir Ata Bajwa, Secretary Industries Punjab, Dr. Shujat Ali, CEO of PIEDMC Gen (r) Javed Iqbal also spoke on this occasion.

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