CPEC accelerates industrialization and investment process

Gwadar Pro

Lahore: Pakistani Federal Minister for Industries and Production Makhdoom Khusro Bakhtiar has said that the China-Pakistan Economic Corridor (CPEC) had accelerated the industrialization and investment process.

The minister said that employment opportunities would be increased only by accelerating the process of industrialization. He expressed these views while presiding over a video link meeting along with Punjab Minister for Industries and Commerce Mian Aslam Iqbal here at committee room of Punjab Board of Investment and Trade (PBIT) to review land issues, colonization and issues of provision of gas, electricity and other infrastructure in industrial zones of CPEC’s Faisalabad Industrial Estate Development and Management Company (FIEDMC).

The meeting agreed to remove obstacles to accelerate the colonization of industrial estates. It was decided to prepare a comprehensive presentation regarding land issues of industrial estates colonization and provision of infrastructure and submit it to Prime Minister Imran Khan.

A committee comprising Secretary Industry and Commerce Punjab Dr Wasif Khurshid, Chief Executive Officer (CEO) Punjab Board of Investment (BOI) Dr Arfa Iqbal and officers of the Federal Ministry of Industry and Production would prepare the presentation.

Makhdoom Khusro Bakhtiar said the federal government would extend full cooperation for the provision of electricity, gas and other infrastructure for the colonization of industrial estates.

Addressing the meeting, Provincial Minister for Industries and Commerce Mian Aslam Iqbal said that industrial estates had been set up in Faisalabad over an area of more than 8,500 acres, adding that 1,000 acres of land in Allama Iqbal Industrial City had been sold for setting up industrial units and 1,000 acres of land in this special economic zone was reserved for Chinese investors.

He said that the board of FIEDMC had been constituted, adding that 100 percent colonization of industrial estates was the policy of the government. Therefore, the cooperation of the federal government was required for speedy supply of electricity and gas in industrial estates, he added.

Mian Aslam Iqbal said that after the month of Muharram, he would go to FIEDMC and meet the stakeholders and solve their problems. The government was in touch with Chinese developers for the development and colonization of the zone reserved for Chinese investors in Allama Iqbal industrial city, he added.

General Manager FIEDMC Rana Yousuf and concerned officers attended the meeting, while Federal Government officers and Hassan Daud from Khyber Pakhtunkhwa Board of Investment and Trade participated in the meeting via video link.