Razak Dawood visits FIEDMC to review progress of CPEC industrial city

Islamabad: Advisor to Prime Minister on Commerce Razak Dawood Saturday visited Faisalabad Industrial Estate Development and Management Company (FIEDMC) office to review the progress of state of the art Allama Iqbal Industrial City, the first Special Economic Zone of the Punjab, under China Pakistan Economic Corridor (CPEC).

Chairman FIEDMC Mian Kashif Ashfaq while briefing the Advisor, said that the project was being executed on fast track basis on the directive of Prime Minister Imran Khan, said a press release received here.

He said that the facility of gas, power, water and basic infrastructure, civic centre etc required for new industrial units had been provided. He said that federal minister Mian Hammad Azhar and Minister Industries Punjab Mian Muhammad Aslam Iqbal had also issued directives to the concerned departments for early completion of the mega project of national importance. The Chairman FIEDMC further informed that nearly 20 industrial units had started their production which covered one third of land of first phase of Allama Iqbal Industrial city while remaining would go into operation by end of the year.

He said during recent meeting, the Prime Minister further directed to minimize the time of allotment of industrial plots to foreign and local investors besides all investors must also be facilitated through one window operation. He said that spreading over of 3300 acres of land, the project was being completed on fast track basis which included furniture city, apparel park, modern business centre and the largest Expo Centre for displaying Pak made products to attract local and foreign buyers.

Mian Kashif Ashfaq said in line with the transparent policy of the Chief Minister Punjab Usman Buzdar, industrial plots are being allotted to export based industries , imports substitute industries and relocation of local industries. He said that the Prime Minister was optimistic about the future of the country and fully committed to providing best possible package of incentives to foreign and local investors to boost up industrial production to strengthen the national economy which promised better living conditions of poor strata of the society.

He said that the Prime Minister was kind enough to approve 500 mega watt grid station and 40 mmcf gas to meet the future demands of the industrial units. He said an amount of rupees 7.5 billions has so far been spent on the completion of first phase.

Razak Dawood expressed satisfaction over the pace of development and progress of this project achieved so far and highly appreciated the dedication, devotion and leadership qualities of Mian Kashif Ashfaq demonstrated in the FIEDMC.