While talking to Chairman CPEC Authority Lieutenant General Asim Saleem Bajwa (retd) in a meeting at FIEDMC Head Office, Federal Minister for Planning, Development and Special Initiatives Asad Umar said that FIEDMC economic zones are advancing Prime Minister Imran Khan’s vision for economic development.
Chairman FIEDMC Mian Kashif Ashfaq, Members of Assembly Farrukh Habib, Faizullah Kamuka, Sheikh Khurram Shehzad, CEO FIEDMC Amir Salimi and others also attended the meeting.
On the occasion, Asad Umar also approved the Jhumra Interchange to facilitate movement in FIEDMC’s economic zones. Work on the interchange would start soon, he informed.
He also guaranteed ample supply of electricity and gas to the investors and industrialists in FIEDMC for which a grid station has been inaugurated. The federal government is ready to provide all possible assistance to the company to ensure the success of its economic zones, he added.
The minister also lauded FIEDMC for playing a vital role in accelerating industrialization in the country. Textile boom also indicated that Faisalabad has been the major beneficiary of the PTI policies during the last two and a half years, he added. He also informed of a new textile policy that the government was working on which would help Pakistan maintain its current tempo and growth.
Read More: FIEDMC to complete projects on priority basis
The Jhumra Interchange was the need of the hour as it took the investors coming to FIEDMC a lot of time to travel to the industrial zone and establishment of Chak Jhumra interchange will help cut down their travel time.
Briefing the minister, Chairman FIEDMC Mian Kashif Ashfaq said that Allama Iqbal Industrial Park was near completion and a one window service center had been established in the SEZ for the convenience of industrialists. The Special Economic Zone will not be subject to income tax for 10 years, thus allowing foreign investment to come to Pakistan, he added.
(FIEDMC) wants to complete its industrial development projects, including M-3 Industrial City and Allama Iqbal Industrial City, as early as possible and for this reason, a special account officer is assigned to each investor and he is provided full support from the time of registration of the company till the commencement of the production unit, said Mian Kashif.
It also includes services ranging from supply of electricity and gas and approval of maps to obtaining permits from various government departments, he said.
The SEZ’s are referred to as the lifelines of Pakistan’s industrial development as once operational, they would be able to create around 2 million jobs. They would also enhance exports and would help in uplifting several other sectors of the economy.
Allama Iqbal Industrial City- A model of excellence by FIEDMC
Allama Iqbal Industrial City, which is one of the nine SEZ’s to be built in Pakistan under CPEC is being developed by FIEDMC. This SEZ was inaugurated by Prime Minister Imran Khan in January, 2020. Addressing the ground-breaking ceremony of the Allam Iqbal Industrial City, he said that Pakistan needs to have intensive industrialization for wealth creation. He further stated that the problem of unemployment can’t be solved by the agriculture-based economy of the country and that the industries need to take up this responsibility.
Allama Iqbal City is spread over 3217 acres of land and strategically located just opposite M-3 Industrial City. It has especially been designed to cater to the needs of the foreign investors, specifically the Chinese industrialists. FIEDMC’s Chairman Mr Mian Kashif Ashfaq stressed that local investors are also being provided with the same facilities and incentives as the foreign companies.
He also stated that 2300 acres of land has been allocated for setting up industrial units and most of the land has been sold out. M3 Industrial City and Allama Iqbal Industrial City are connected to M4 Motorway Sahianwala Interchange. FIEDMC believes that within one to two years, more companies would set up there which would significantly increase national exports. This would usher in a new era of industrial development in Pakistan. M3 Industrial City and Allama Iqbal Industrial City are connected to M4 Motorway Sahianwala Interchange. FIEDMC believes that within one to two years, more companies would set up there which would significantly increase national exports. This would usher in a new era of industrial development in Pakistan