Islamabad July 28 2021: The first phase of state of the art Allama Iqbal Industrial City, the first Special Economic Zone (SEZ) of Punjab under China Pakistan Economic Corridor (CPEC) has been completed.
Talking to a delegation of exporters and investors, Chairman FIEDMC (Faisalabad Industrial Estate Development and Management Company) Mian Kashif Ashfaq here Wednesday said Prime Minister Imran Khan expressed satisfaction over the pace of development of this project and directed the Federal Minister Hammad Azhar, adviser to PM on Commerce Razak Dawood and Minister Industries Punjab Mian Muhammad Aslam Iqbal to ensure provision of basic infrastructure including gas, electricity, roads, civic centre etc on top priority before its execution.
He said nearly 20 industrial units have started their production, which covered one third of land of first phase of Allama Iqbal Industrial city while remaining will go into operation by the end of year.
He said this project spread over a tract of 3300 acres of land was being completed on fast track basis, which included furniture city, apparel park, modern business centre and the largest expo centre for displaying Pakistan 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 he attended a meeting with the PM the other day who 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 promise better living conditions to poor strata of the society.
He said the PM had already approved 500 mega watt grid station and 40 mmcf gas to meet the demands of the industrial units. He said an amount of PKR 7.5 billion has so far been spent on the completion of first phase.