According to Express News, Shahid remained under the debris without food and water for over 48 hours.
Reports suggest parents of the 18-year-old youth had already buried an unidentifiable body thinking it was of their lost son.
Rescuers also found dead bodies of factory's owner Rana Ashraf, general manager, Shakoor and three others, one of them identified as Adeel.
Bodies of at least 37 people have so far been recovered after a four-storey building housing a plastic bags factory collapsed in Lahore's Sundar Industrial Estate on Wednesday.
Continuing their efforts on the third consecutive day, rescuers have so far pulled more than 100 survivors from the rubble, and are searching for many others believed to be still trapped.
Death toll in Lahore factory collapse rises to 26: official
More than 150 workers were present in the Rajput Polyester Factory when it collapsed.
Soldiers and rescuers are carefully cutting through steel and using cranes to lift the debris of the building in a bid to find people still alive.
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