LAHORE - The Board of Directors of the Punjab Industrial Estates has approved an Exit Policy for those allottees of the Sundar Industrial Estate to transfer their plots in a year time, who did not enter into process of industrialization.

This was stated by SM Tanveer, Chairman Punjab Industrial Estates, in a statement released here. He said that PIEDMC management has announced a new policy named “Exit Policy-2012”. This policy holds in abeyance, for one year, earlier customers/allottees were not allowed to sell or transfer their plot until 3 months of production/Sale Deed. As per “Exit Policy-2012” all existing plot owners/allottees are allowed to transfer their plots during the period 15 March 2012 to 14 March 2013, besides those allottees who are in litigation after withdrawing their court cases.

The purpose of this policy is one time relief and PIEDMC will revert back to original terms and conditions at the end of one year. The new allottees of the plots will be bound to follow the original terms and conditions. Plot transfer is open w.e.f. 15 March, he added.