Prime Minister Imran Khan will inaugurate the new Allama Iqbal Industrial City on Friday (today). The project aims to house foreign and local investors and promote economic activities in the country.
The industrial city is a prioritised project of the Special Economic Zone (SEZ) of the Faisalabad Industrial Estate Development and Management Company (FIEDMC) under the China-Pakistan Economic Corridor (CPEC).
A statement issued by the company on Thursday read that FIEDMC Chairman Mian Kashif Ashfaq appreciated the prime minister’s economic policies, adding that the government is focused on economic growth in the country.
“With trade and investment being an important pillar of the present government’s foreign policy, there is a positive sentiment among the international community towards the country’s economy, which needs to be tapped,” he added.
Highlighting the development projects of FIEDMC, Ashfaq said that around Rs400 billion by locals and $200 million in foreign investors will be injected into various projects, indicating that investors have reposed complete confidence in the incumbent regime.
He added that Allama Iqbal Industrial City has been planned over an area of 4,000 acres and is strategically located on the M-4 Motorway near the Sahianwala Interchange of Faisalabad.
The main boulevard, entrance gate and boundary wall of the project are expected to be completed within six months.
Published in The Express Tribune, January 3rd, 2020.
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