A lot of investment domestically and foreign is being attracted by the Faisalabad Industrial Estates Development and Management Company (FIEDMC).
The Chairman of FIEDMC Mian Kashif Ashfaq, while talking to the Lahore Chamber of Commerce and Industry (LCCI) President Mian Tariq Misbah in the presence of Senior Vice President Nasir Hameed Khan and Vice President Tahir Manzoor Chaudhry explained that the establishment of new industrial units by Chinese, Asian, European, Turkish and Saudi companies would generate employment opportunities at a vast scale besides much-needed revenue for the government.
Mian Kashif Ashfaq expressed these views on Thursday at the LCCI.
Ongoing projects and development work under the FIEDMC
Mian Kashif gave a lengthy presentation on the ongoing projects and development work under the FIEDMC. He also announced that a facilitation desk at the LCCI was being set up for investment-related issues quicker and more efficiently.
The meeting also announced that a delegation of the LCCI led by its President Mian Tariq Misbah would visit Faisalabad to witness the development work done in the industrial estate.
He notified the LCCI about the different facilities being provided at the industrial estate. He relayed to the LCCI that FIEDMC always provides modern facilities to its customers; it also resolves their issues through one window operation.
Speaking on occasion, the president of LCCI, Mian Tariq Misbah, said the industrial estates are imperative for the growth of industries and providing employment generation, export promotion, and economic development in Pakistan.
FIEDMC and Power China JEPCC have signed a memorandum, which aims to facilitate setting up of a 700MW Solar Power Plant for M3-Industrial City & Allama Iqbal Industrial City. 1/3 @pid_gov @PTIofficial @PTVNewsOfficial— Abdul Razak Dawood (@razak_dawood) July 17, 2020
He said: “The special economic zones are the need of the hour, and we have to take certain steps to divert investments to the industrial sector.”
The LCCI president said a dire need to have a specific industrial policy to encourage the private sector representatives to start vigorous industrialization. Mian Tariq Misbah said that the industrial sector’s incentives would help generate new employment opportunities. “There is no doubt that with the establishment of special economic zones across the country, the present pace of economic development can be enhanced to achieve the desired results,” he added.
GVS News Desk