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FIEDMC to Reserve 100 Acres Land for LCCI for Setting Up Industry in SEZ

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LAHORE– Faisalabad Industrial Estate Development and Management Company (FIEDMC) will reserve 100 acre land in its Special Economic Zone (SEZ) for the Lahore Chamber of Commerce and Industry members (LCCI) for setting up industrial units to boost economic activities in the country.

FIEDMC Chairman Mian Kashif Ashfaq  Monday disclosed that an MOU will be inked with LCCI in this regard.

He said he had result oriented and fruitful meeting with Almas Hyder, President of LCCI ,SVP khawaja Shahzad and VP Faheem and others.

LCCI delegation under leadership of LCCI President Almas Hyder will visit Special Economic Zones (SEZs) M3 Industrial City and Allama Iqbal Industrial City on September 05 and later the delegation will also visit the central office of FIEDMC. It was also agreed that if any LCCI member is interested to buy land in SEZs, he will be given allotment letter on this occasion.

 FIEDMC Chairman Mian Kashif Ashfaq said that those interested companies and industries who wanted to start their work immediately or they want to purchase small land, they will be accommodated in M3 Industrial City while those interested parties aspired to work in SEZs under CPEC, they will be given land in Allama Iqbal Industrial City.

He also suggested that a special information desk  be set up in LCCI which will extend help to those who want to invest in SEZs or they seek any information, they will be updated on the spot.

Mian Kashif said the good thing is that Tehreek-e-Insaf government under dynamic leadership of Prime Minister Imran Khan offered a big incentive package to foreign investors in order to gear up economy besides attracting Foreign Direct Investment (FDI) in a large volume.

“Investment incentives in Pakistan are diverse and highly business friendly. We offer prospects of co-production and joint ventures with local partners. We are allowing a 100 per cent foreign equity and no limit on repatriation of profits and dividends, particularly in the large scale infrastructure and manufacturing sectors. The most attractive tax concessions and exemptions are also available to specific businesses,” he pointed out.

He was optimistic that Pakistan is coming out of the economic crunch and entering a new economic phase of development and prosperity under the dynamic leadership of Prime Minister Imran Khan.

“The local business community seems to be satisfied with the initiatives taken by the government for the economic revival as evident from the ongoing economic activities in the country.

Their businesses are expected to get an unprecedented boost through joint ventures with foreign companies, which will resultantly stabilize the national economy,” he concluded.— PRESS RELEASE