LAHORE: The Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam) and Punjab Industrial Estates Development and Management Company (PIEDMC) signed an agreement to invest in the Quaid-e-Azam Business Park Sheikhupura, a statement said.

PIEDMC CEO Ali Moazzam Syed and Paapam chairman Abdul Razzaq Gohar signed the memorandum of understanding.

According to the agreement, PIEDMC will provide all the facilities in terms of ease of doing business to the aspiring investors in the Quaid-e-Azam Business Park from Paapam’s platform.

Hashmi said that the Quaid-e-Azam Business Park would fetch an investment of Rs300 billion and create 500,000 jobs.

PIEDMC chairman Syed Nabil Hashmi, board director Usman Aslam Malik, Tawfiq Sherwani and Mansoor Abbas were also present on the occasion.