More than 33 PC of Allama Iqbal SEZ already colonized by investors: Asim Bajwa

ISLAMABAD   –  Chairman CPEC Authority Lt Gen (R) Asim Saleem Bajwa has said that development work on the Allama Iqbal Special Economic Zone Faisalabad is in full swing under the CPEC, and 33 percent of the land has been purchased by the investors.

“Allama Iqbal SEZ (Fsd) development work in full swing. Total saleable land 2276 acres. 33% land purchased by 69 investors so far,” Asim Bajwa said in a tweet here Monday.

He further said that 182 acres purchased by 7 foreign investors, while several Pakistani/ foreign Industries have started construction.

As per the official details, Allama Iqbal Industrial City (AIIC) under the China Pakistan Economic Corridor is the largest among SEZs in terms of area. The Allama Iqbal SEZ has advantage for being adjacent to M3-Industrial city which comprises of large number of projects including textile, pharmaceuticals, information technology, chemicals automotive, service complex, etc.

Land has been acquired for AIIC, and construction work is in progress since November, 2019. Utilities provision in the Allama Iqbal SEZ will be completed in phases to be covered in year 2020, 2021, and 2022. Standard size of plot is minimum 1 acre available for investors in all prioritized SEZs.