The Board of Investment Pakistan is set to declare the status of special economic zone for Bhalwal Industrial Estate that has become big attraction for foreign investors due to its strategic location on Lahore-Islamabad Motorway. The Punjab Industrial Estates Development & Management Company (PIEDMC) Chairman, Rizwan Khalid Butt, revealed this while talking to a group of overseas investors who met him here on Friday.

The Chinese and overseas Pakistani investors rated Bhalwal Industrial Estate high for investment because of its short distance from Motorway that is five kilometers off the Salim Interchange, he said. In addition, he added that two different investors from the US and UAE respectively are planning a plastic factory and a pharmaceutical unit in near future. The Company is in process of inviting bids for a grid station at the estate, he said, and hopped that these two steps would attract more investors in future.

So far, 100 industrial plots have been sold at Bhalwal Industrial Estate while selling spree would boost up further when the repairing of a road linking the site with Salim interchange would be completed. He said 90 percent of development work has been completed and remaining 10 percent would be finished within next two months, he added.

Copyright Business Recorder, 2017