‘Prime Minister Imran Khan’s vision is to strengthen institutions, the national economy and bring his people out of poverty, besides improving their quality of life’, Chairman Faisalabad Industrial Estate Development and Management Company (FIEDMC) Mian Kashif Ashfaq said on Friday.
While unfolding the salient traits of the Allama Iqbal Industrial City project to media at the project’s groundbreaking site, Mian Kashif said ‘This mega project takes the lead among the project of Special economic zones planned under CPEC as being the first to operationalize among 9 planned’.
Excellent News! Because Chinese diplomats & corporates were quietly complaining that Pakistani institutions & businesses are not geared to absorb "Industrial Relocation" – Faisalabad Business community takes the cake! https://t.co/RBKd8G8EMt via @@GVS_News
— Moeed Pirzada (@MoeedNj) January 1, 2020
Mian Kashif further commended the commitment of sitting government towards its people and to solving the problems & challenges people face on a daily basis.
Pakistan is an attractive investment destination for foreign investors, steadily developing under the dynamic leadership of PM Khan and holds a large diverse market with a rich array of resources and export-oriented companies that would prosper with ease in the comforts of Allama Iqbal Industrial City and would contribute more towards Pakistan’s economy by attracting more foreign investment, which currently Pakistan is in dire need of, he went on to say.
Mian Kashif highlighted the urgent need of focusing on the development of more Special Economic Zones (SEZs) following the same pattern as FIEDMC as such projects have the potential of contributing to enhancing the country’s exports by 1 to $1.5 Billion per annum in the short run with a comprehensive and effectively designed strategy specifically tailored to meet Pakistan’s exporting shortcomings.
Mian Kashif attributed FIEDMC as a successful merger of public & private entities working together towards a common goal and highlighted its potential of becoming a future economic engine that can power the country’s economic progress under the flag of China Pakistan Economic Corridor.
Allama Iqbal Industrial City by FIEDMC would house as many as 400 industries besides giving employment to 3000,00 people. Approximately Rs 400 billion local and nearly 200 millions dollar foreign investments would be pumped into this project.
— Kashif Ashfaq (@Kashif_Ashfaq1) December 31, 2019
He underscored Faislabad’s strategic importance to Pakistan as being located in the heart of Pakistan and being flanked by two passing motorways on its eastern and western borders. Faisalabad has a rich unique history and has the privilege of contributing to almost 60% towards Pakistan’s textile exports and 45% towards the total exports of the country, Mian added.
Faisalabad’s uniquely designed strategic importance might be defined by its contribution towards the textile industry but is not restricted to it, with hundreds of SMEs in Chemical, Steel, Food processing and many more playing an imperative role in the economic growth of the country, Mian Kashif said.
The stage is set for spectacular ground breaking ceremony of the state-of-the-art Allama Iqbal Industrial City, a mega prioritized project of Special Economic Zone (SEZ) of FIEDMC under CPEC on January 03.
Prime Minister Imran Khan will inaugurate this mammoth project .
— Kashif Ashfaq (@Kashif_Ashfaq1) December 31, 2019
FIEDMC Chairman attributed Pakistan’s effective economic policies in attracting investors from China, Turkey, Korea, and Britain who have pumped as much as US $1.50 Billion in Pakistan and the restoration of foreign investors’ confidence in Pakistan is bringing more investment from countries into Pakistan’s SEZs. With a recent betterment in Pakistan’s economic and security structure, foreign investors are eager to invest in the diverse market of Pakistan ranging from ceramics, chemicals, steel, food processing, and automobiles.
Mian Kashif further promised the industries working under FIEDMC dome, immediate access to high-quality infrastructure for better functioning, uninterrupted power supply, public facilities, and a supportive working environment along with simpler ease of doing business.
Mian Kashif was all praises for Prime Minister Imran Khan and attributed him to have resuscitated the confidence of the foreign and national business community in Pakistan by setting an example as an honest, brilliant, and dedicated person striving for a transformed Pakistan where corruption and mismanagement are things of the past.
Allama Iqbal Industrial City
Prime Minister Imran Khan will perform ground-breaking ceremony of the “Allama Iqbal Industrial City” (AIIC) today, a state of the art mega project, being developed as part of the Special Economic Zone (SEZ) of Faisalabad. This is the first CPEC linked Economic Zone that is being operationalized out of the nine zones that were conceived.
FIEDMC led business community in Punjab took lead over similar initiatives being planned in KP and Sindh.
PM Imran Khan likely to to perform ground breaking ceremony of Allama Iqbal Industrial City on Jan 3. pic.twitter.com/PD0DYAGaYb
— Information Ministry (@MoIB_Official) December 29, 2019
Mian Kashif holds, “Trade and investment are an important pillar of the government’s foreign policy, there is a positive sentiment among the international community towards the country’s economy, which needs to be tapped and these special economic zones are playing an important role”.