Muhammad Luqman

Developed by the Punjab government in Sheikhupura, the Quaid-e-Azam Business Park is fast emerging as a major hub for local and foreign investment in Punjab’s industrial sector, raising hopes for large-scale job creation and accelerated industrialisation in the region. “Eleven factories have started production, while another 43 are either under construction or nearing completion,” Maj (rtd) Javed Iqbal, Chairman of the Punjab Industrial Development and Management Company, told Wealth Pakistan.

In an interview, he said local and foreign investors have made commitments worth Rs174 billion, which are expected to materialise in the near term. He described the Quaid-e-Azam Business Park as an ideally located project on the Lahore–Islamabad Motorway (M-2) at Sheikhupura, offering strong connectivity to major surrounding cities, particularly Lahore and Sheikhupura. “With its strategic location and state-of-the-art infrastructure, the park serves as a key destination for businesses and investors,” he said.

Spread over 1,860 acres, the project also includes an additional 200 acres allocated for a labour colony, expected to provide accommodation for around 30,000 workers. The government has declared the park a Special Economic Zone (SEZ), making investors eligible for a one-time customs exemption on the import of capital goods and a 10-year income tax holiday. The park’s master plan includes modern office spaces, cluster zones and advanced facilities designed to meet the needs of both local and international businesses.

A 200,000-square-foot Center Way Business Square is being constructed at the central location of the park, while work is set to begin on a dedicated motorway interchange. Special emphasis is also being placed on developing a Combined Effluent Treatment Plant. The project is expected to generate around 250,000 jobs for skilled and unskilled workers and promote the participation of a skilled women workforce, the PIEDMC chairman added.

In addition to industrial units and offices, the park will house a Garment City spread over 90,000 square feet. Each floor will cover 3,000 square feet, with the multi-storey facility providing space for manufacturing, storage and business operations within the textile and garment industries. To ensure an uninterrupted power supply, the National Grid Company of Pakistan has energised a dedicated 220kV grid station in Sheikhupura.

According to NGC officials, the project—completed at a cost exceeding Rs4 billion and financed by the government under the Cash Deposit Loan (CDL) facility—has been designed to meet the electricity needs of large-scale industrial consumers operating within the SEZ. The business community has welcomed the development.

Lahore Chamber of Commerce and Industry President Faheem-ur-Rehman Saigol said a number of industrial groups are investing in the zone due to incentives such as tax holidays. He expressed optimism that, once fully developed, the industrial cluster would contribute significantly to the national economy by producing exportable surpluses, particularly in textiles and garments. However, some industrialists have urged caution.

Manzoorul Haq Malik, former regional chairman of the Federation of Pakistan Chambers of Commerce and Industry, said the government should avoid imposing excessive conditions on investors, adding that units should be allowed to become profitable before facing multiple revenue obligations.

Credit: INP-WealthPk