CPEC: First phase of Allama Iqbal Industrial City completed

Web DeskWeb Editor

28th Jul, 2021. 07:02 pm

ISLAMABAD: The first phase of state-of-the-art Allama Iqbal Industrial City, the first Special Economic Zone (SEZ) of Punjab under the China-Pakistan Economic Corridor (CPEC), has been completed.

Talking to a delegation of exporters and investors, Faisalabad Industrial Estate Development and Management Company (FIEDMC) chairman Mian Kashif Ashfaq on Wednesday said that Prime Minister Imran Khan expressed satisfaction over the pace of development of this project and directed Federal Minister Hammad Azhar, Adviser to the Prime Minister on Commerce Razak Dawood and Punjab Minister for Industries Mian Muhammad Aslam Iqbal to ensure the provision of basic infrastructure, including gas, electricity, roads, civic centre, etc, on top priority before its execution.

Nearly 20 industrial units have started their production, which covered one-thirds of the land of the first phase of Allama Iqbal Industrial city, while the remaining will go into operation by the end of the year, he added.

“The PM further directed to minimise the time of allotment of industrial plots to foreign and local investors and all investors must also be facilitated through a one-window operation,” he said.

Ashfaq said that this project spread over a tract of 3,300 acres of land was being completed on a fast-track basis, which included a furniture city, apparel park, modern business centre and the largest expo centre for displaying Pakistan-made products to attract local and foreign buyers.

In line with the transparent policy of Punjab Chief Minister Usman Buzdar, the industrial plots are being allotted to the export-based industries, imports substitute industries and relocation of local industries.

The FIEDMC chairman said recently he attended a meeting with the prime minister who was optimistic about the future of the country and fully committed to providing the best possible incentives package to foreign and local investors to boost up industrial production and to strengthen the national economy.

The prime minister had already approved a 500MW grid station and 40mmcfd gas to meet the demands of the industrial units. An amount of Rs7.5 billion has so far been spent on the completion of the first phase, he added.

 

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