FIEDMC SEZs to get full support from embassies abroad, Qureshi

Foreign Minister Shah Mehmood Qureshi on Monday said that embassies abroad would extend their full support to Faisalabad Industrial Estate Development & Management Company (FIEDMC) for investment in FIEDMC economic zones.

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Talking to Chairman FIEDMC Mian Kashif Ashfaq on the occasion of his visit to M-3 Industrial City and Allama Iqbal Industrial City Faisalabad, Qureshi said that the Foreign Office would help FIEDMC in gaining access to foreign investors and in this connection a regular plan would be devised and shared with the Pakistani embassies abroad.

A separate economic wing has also been established which would bring investment from abroad to Pakistan through regular planning.

He said that good news would also come this time regarding FATF and Pakistan’s name was expected to be removed from the grey list.

Referring to the decline in cotton production, Shah Mehmood Qureshi said that full attention would have to be paid to research on this issue. He assured that he would talk to the Prime Minister in this regard.

He appreciated the efforts of Chairman FIEDMC and said that he would extend full support for the success of all FIEDMC projects.

Read More: FIEDMC economic zones advancing PM’s vision, Asad Umar

FIEDMC is in the process of developing the biggest CPEZ SEZ of Pakistan- Allama Iqbal Industrial City, at Sahianwala, Faisalabad. 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.

Qureshi also termed FIEDMC’s plan to set up an agro-based economic zone on 1,500 acres of land in Toba Tek Singh as the best step for agricultural development. This would provide equal benefits to the farmers of Multan, Khanewal, Sargodha and Faisalabad, he added.

Chairman FIEDMC Mian Kashif Ashfaq informed the Foreign Minister that there were vast investment opportunities for small and medium enterprises in FIEDMC’s economic zone in the fields of meat and food processing, cold storage and modern farming.

Earlier, Federal Minister for Planning, Development and Special Initiatives Asad Umar had said that the government would provide all possible assistance to make FIEDMC’s economic zones successful.

He 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 said.

The minister also lauded FIEDMC for playing a vital role in accelerating industrialization in the country.