Allama Iqbal Industrial City to attract huge investment: Kashif Ashfaq

FAISALABAD: Faisalabad Industrial Estate Development & Management Company (FIEDMC) chairman Mian Kashif Ashfaq Monday said Allama Iqbal Industrial City is included in Special Economic Zone of China-Pakistan Economic Corridor (CPEC).

Addressing a meeting, Mian Kashif said domestic and foreign investors as well as business community would be provided full support, including special incentives if they will invest in Allama Iqbal Industrial City. “As many as 2,300 acres in Allama Iqbal Industrial City have been allocated for setting up industrial units and most of this land has been sold out,” he said.

In view of increasing demand of investors, 3,200 acres additional land in this industrial city would be provided to industrial units, he added. He stressed that local investors were being given the same incentives and facilities as foreign companies in this city. “Within next one to two years, more industries would start production in Allama Iqbal Industrial City which would significantly increase national exports and it would hopefully be the forerunner of a new era of industrial development in Pakistan”, he said.

The FIEDMC will start solar energy and solid waste energy generating projects, besides purchasing electricity direct from NTDC so that energy tariff in this city could be decreased up to 20 percent, he said. “For this purpose, negotiations are also underway with Chinese companies”, he maintained. He said the FIEDMC has also planned to construct low-cost flats in the economic zone for labor of industrial units. A shuttle train from the city to the economic zones and a bus service from one economic zone to another were also under consideration, he said.

Responding to a question, he said that M3 Industrial City and Allama Iqbal Industrial City were connected to M4 Motorway Sahianwala Interchange. He said entire space in M3 Industrial City has been sold and investors from Pakistan as well as from China, UK, Saudi Arabia, Korea, Turkey, UAE, France and several other countries invested in this city. “They have also completed their plants in M3 Industrial City and now they are selling their products all over the world including Pakistan”.

Mian Kashif Ashfaq said the CPEC was a great opportunity for development in Pakistan but it is necessary for the youth to acquire technical expertise and various required skills, adding that FIEDMC planned to establish a technical university near Allama Iqbal Industrial City and M3 Industrial City to impart technical education and skills to youth. This university will offer programs based on civil technology, mechanical technology, food processing technology, information technology, computer education, automobile, auto diesel, electrical technology, industrial management, Chinese language, etc.