Govt vows to give incentives package to investors: adviser

LAHORE: The government was fully committed to providing the best possible incentives package to local and foreign investors, a senior government official said on Saturday.

During his visit to the office of the Faisalabad Industrial Estate Development and Management Company (FIEDMC) Adviser to the Prime Minister on Commerce Razak Dawood said that the investors’ facilitation would boost industrial production to strengthen the national economy, which promised better living conditions of the poor strata of the society.

The adviser also reviewed the progress on the Allama Iqbal Industrial City (AIIC), the first mega project of Punjab under the China-Pakistan Economic Corridor.

Briefing the adviser, FIEDMC chairman Mian Kashif Ashfaq said that the AIIC project was being executed on a fast-track basis on the directives of Prime Minister Imran Khan.

The facility of gas, power, water and basic infrastructure, civic centre, etc, required for the new industrial units had been provided, he said, adding that nearly 20 industrial units had started their production, which covered one-third of land of the first phase of the Allama Iqbal Industrial City, while the remaining would go into operation by the end of the year.

The prime minister has directed to minimise the time of allotment of industrial plots to foreign and local investors, besides all investors must also be facilitated through one-window operation.

Ashfaq said that the AIIC project spread over 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 “Made in Pakistan” products to attract local and foreign buyers.

An amount of Rs7.5 billion has so far been spent on the completion of the first AIIC phase, he added.

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

Dawood expressed satisfaction over the pace of development and progress of this project achieved so far and also appreciated the efforts of FIEDMC chairman in this regard.

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