Prime Minister Imran Khan will inaugurate state of the art Allama Iqbal Industrial City fully equipped with modern infrastructure to boost economic activity and generate further employment to cope with the current economic crisis, in December.
The new industrial city will create 250,000-300,000 jobs and 350-400 mega industrial units will be set up in it, said Mian Kashif Ashfaq, Chairman Faisalabad Industrial Estate Development and Management Company.
Mian Kashif Ashfaq said, “The project, which is part of the China Pakistan Economic Corridor (CPEC), will amplify trade and investment both at the national and international level, which is a priority area of the incumbent government.”
He said “ excellent incentive package offered by the government to investors, the company would attract more millions of dollars in foreign direct investment and in this regard, many more Memorandum of Understandings (MOUs) have been signed for injecting capital into Special Economic Zone”.
He further said a sizable portion has been allocated for promotion of Small and Medium Enterprise (SME) sector and this portion would not only facilitate small traders but would also promote new SMEs in the industrial estate.
Mian Kashif also briefed investors on the Prime Minister’s economic reform program aimed at promoting economic activities in the country, as well as considering incentives and revolutionary measures to encourage investment, exports, ease of doing business and strengthening of important sectors of the national economy.
He said the government was also encouraging financial inclusion and public-private partnership so the investors could take advantage of the opportunity.
Due to wrong policies of the previous governments, the country was on the verge of becoming a defaulter as the foreign exchange reserves had gone down and no international monetary institution was ready to lend money to it, said Mian Kashif.
However, Pakistan Tehreek-e-Insaf after coming into power, worked hard to bring the country out of the financial crisis, he added.
He said Pakistan had immense natural and human resources, which if utilized wisely and properly, could make it one of the world’s developed countries.
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27 September, 2019