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PM Khan To Inaugurate Allama Iqbal Industrial City In October

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LAHORE– Prime Minister Imran Khan will inaugurate state of the art and fully equipped with modern infrastructure Allama Iqbal Industrial City during first week of upcoming October to house foreign and local investors besides giving impetus to economic activities in the country.

Mian Kashif Ashfaq, chairman Faisalabad Industrial Estate Development and Management Company (FIEDMC) disclosed while talking to media Thursday.

Appreciating economic policies of PM, he said the incumbent government has focused on the economic growth in the country.

“With trade and investment being an important pillar of the present government’s foreign policy, there is a positive sentiment among the international community towards the country’s economy, which needs to be tapped,” he added.

He said that the industrial zones would be established through public private partnership and joint ventures of company to company agreements.

He said that the government would prepare a policy framework to put the work on industrial zones on fast track.

He further said the policies were put in front of all the business leaders by the government and they showed their complete confidence in the policies. The policies included ways to reduce cost and to provide an easy platform to do business in the country.

Highlighting the development projects of FIEDMC, Mian Kashif said about 12 million dollars foreign investment has been pumped into various projects which clear indication that foreign investors have reposed complete confidence in the present regime.

“Besides this, local investors and industrialists have also invested billions of rupees in FIEDMC and this is all due to untiring efforts of FIEDMC administration which is addressing issues of business community on priority basis,” he added.

Giving details about Allama Iqbal Industrial City, he said this is being constructed near Sahianwala interchange of motorway under the China-Pakistan Economic Corridor (CPEC). He said this new industrial city will provide lucrative jobs to a large number of jobless persons.

“According to the plan, new industrial units of different nature would be constructed in the Allama Iqbal Industrial City. Scattered industrial units are already operating in various congested localities of the city which would also be shifted to this new industrial estate after its completion,” he added.

Mian Kashif said that the importance of the CPEC as a strategic alternative is immense, leveraging the economic opportunities that it can unleash its strategic significance and bring prosperity, peace as well as stability in the whole region.

He said that the Pakistani government looks forward to working with China in the new areas focusing on socio-economic development, cooperation in agriculture modernisation, value chains, and poverty alleviation.

He further said FIEDMC is committed to improve Pakistan’s ease of doing business ranking to under 100 within two years to attract the international investors in the country.

He said that time, procedure, cost and companies’ registration and rapid business process including other 10 indicators define the ease of doing business ranking at international level.— PRESS RELEASE