Punjab govt eyes complete occupation of M3 Industrial Estate by year-end

FIEDMC chairman stresses giving land on priority to those who start construction immediately

LAHORE:

The Punjab government has set a deadline for complete occupation of M3 Industrial Estate by the end of this year, said Faisalabad Industrial Estate Development and Management Company (FIEDMC) Chairman Mian Kashif Ashfaq.

His comments came during a ceremony to present an allotment letter of five acres of land for the Faisalabad Chamber of Commerce and Industry (FCCI) Complex in M3 Industrial Estate.

Ashfaq said that FIEDMC was contemplating to retrieve the land from the present allottees that were unable to begin construction immediately and transfer it to those who would kick start construction on an immediate basis.

He stressed that the retiring allottees would be compensated in the next phase of M3 Industrial Estate, adding that land was ready to be sold out to the potential industrialists for the next phase.

“The government has already expedited the process of industrialisation with multiple supportive measures,” he said. “Moreover, a business zone has also been conceived in front of M3, which will have a state-of-the-art expo centre to hold regular exhibitions.”

He highlighted that a technical university and commercial area would also be developed in collaboration with Germany.

Similarly, 25 acres of land has also been set aside for Chenab Club and the chamber would get the land at subsidised rate so that it is able to complete the project as early as possible.

Regarding the complete occupation of M3 Industrial City, Ashfaq requested the business community to motivate investors from across the globe to invest in it as it offered all necessary facilities under one roof.

Ashfaq further said that 600 acres of land has been reserved for processing zone.

He requested FCCI President Rana Muhammad Sikandar Azam Khan to identify industrialists who would readily start constructing their units on short notice so that land could be allotted to them on a priority basis.

He further said that a water treatment plant was also being installed, which would fulfil a mandatory condition of international buyers to contain environmental pollution.