What does PIDC mean in COMPANIES & FIRMS
Abbreviations are a great way to condense information in a short and concise manner. In business, they may be used commonly when referring to companies and organizations that have made an impact in the world of commerce. One such acronym is PIDC, which stands for Pakistan Industrial Development Corporation. Founded in 1957, this government-operated body has played a large role in helping promote industrial growth within Pakistan through creating incentives and sponsoring infrastructure projects. In this article, we’ll take a brief look at what PIDC means, what it does and how its actions have benefited the country of Pakistan.
PIDC meaning in Companies & Firms in Business
PIDC mostly used in an acronym Companies & Firms in Category Business that means Pakistan Industrial Development Corporation
Shorthand: PIDC,
Full Form: Pakistan Industrial Development Corporation
For more information of "Pakistan Industrial Development Corporation", see the section below.
Essential Questions and Answers on Pakistan Industrial Development Corporation in "BUSINESS»FIRMS"
What is Pakistan Industrial Development Corporation (PIDC)?
Pakistan Industrial Development Corporation (PIDC) is a wholly owned company under the Ministry of Industries and Production. It is responsible for industrial development, investment promotion, technological resources and fostering strategic partnerships besides assisting in commercialization of indigenous technology.
What services does PIDC offer?
PIDC offers a wide variety of services related to industrial development such as providing project management support, business incubation, industrial intelligence and policy recommendations. Moreover, it supports foreign investments in Pakistani industries by providing assistance with land leasing, capital provision and tax exemptions.
Is PIDC involved with research activities?
Yes. PIDC provides several research activities by investing in technology parks, technical centres and regional laboratories that support innovative research projects for local entrepreneurs. It also encourages collaboration between public-private institutions to achieve its goal of creating an environment conducive to innovation and technology growth.
What are the priorities of PIDC?
The main priority of PIDC is to create an ecosystem conducive to industrial development in Pakistan by supporting projects that spur economic growth and drive competitiveness in the national market. It focuses on providing resources such as access to funding opportunities, market analysis and capacity building assistance both for domestic and foreign investors.
How can I make use of PIDC’s services?
You can contact PIDC to get more information about their available services through their website or directly via email [email protected] or telephone (+92) 348 346 7861 / (+92) 345 863 0074-5 (M), (+92) 312 736 0386 (S). Once you have identified your needs you can apply accordingly for specific programs tailored according your requirements.
Does PIDC have any incentives for foreign investors?
Yes, they do! Foreign investors who invest more than US$ 1 million are eligible to receive investment facilitation services from PIDC which include free customs duty exemption benefits on certain machinery and equipment imports as well as 10-year income tax holiday from corporate taxation on all profits derived from said investments.
Where does the funding come from?
The funding comes mainly from the Government of Pakistan through budget allocations to the Ministry of Industries & Production which are then redirected towards specific programs set up by PIDC every fiscal year.
Is there any other way one can get involved with the work of PIDC?
If you would like to take part in developing local industry through knowledge transfer or improve international partnerships between Pakistani businesses with foreign entities you should contact the professionals within their Advisory Services sector as they provide comprehensive advice on a range of potential initiatives tailored according your objectives.
Final Words:
In summary, PIDC stands for Pakistan Industrial Development Corporation – an organization founded by presidential ordinance back in 1957 with the explicit purpose being geared towards promoting industrialization & economic growth throughout Pakistan via infrastructure investments & incentives programs designed specifically for this purpose alone. Thanks largely due its tireless efforts over decades past, businesses now have greater access towards capital while citizens can find employment opportunities more readily than ever before - all thanks largely due to PIDCs efforts over decades past paving way for increased current day success stories!