China-specific SEZ to be set up in Allama Iqbal Industrial City (AIIC)

Lahore    –  The government has decided to set up a Special Economic Zone (SEZ) for Chinese investors in Allama Iqbal Industrial City (AIIC).

The FIEDMC (Faisalabad Industrial Estate Development and Management Company) Chairman Mian Kashif Ashfaq disclosed this to the media here Sunday. He added that the project would be completed  within two years.

All development work of this Special Economic Zone would be carried out by Chinese companies, he said, adding that these companies would also market the SEZ and bring Chinese investors here.

Mian Kashif said that Allama Iqbal Industrial City had now become the most preferred destination for Chinese in terms of investment.

He said that only Chinese investors would be allowed to relocate their industries to that SEZ. Industry relocating in AIIC includes automobile, ceramics, steel and light engineering, he said and asserted that 30 companies had already invested more than Rs one billion in the M3 industrial city, another project by FIEDMC.n

“Several Chinese companies are in touch with us to invest in the AIIC. Creation of a separate SEZ for Chinese will bring more investments and promote industrialisation in Pakistan,” he mentioned.