Pakistan needs an industrial revolution to emerge as a strong economy of the region for which the government should provide support to the private sector in setting up more SEZs in the country, said Islamabad Chamber of Commerce and Industry (ICCI) President Sardar Yasir Ilyas Khan.
During a meeting with the Faisalabad Industrial Estate Development and Management Company (FIEDMC), he said given the potential and size of the market, Pakistan could enhance its exports up to $300-400 billion per annum, but lack of industrialisation has held the country back from realising its actual export potential.
Speaking on the occasion, FIEDMC Chairman Mian Kashif Ashfaq assured to extend all possible support to ICCI for the establishment of a new industrial estate in the federal capital. He announced to set up a facilitation desk of FIEDMC at ICCI to brief the foreign delegations and diplomats visiting ICCI about potential investment opportunities in SEZs of FIEDMC.
Ashfaq stated that FIEDMC has set up M3 Industrial City at 4,356 acres to house medium and large scale industries.
He said an agro zone would also be set up at 1,500 acres for SMEs and agro-businesses. Moreover, health city, apparel city, light engineering and furniture city would also be set up in SEZs to promote industrialisation. Ashfaq highlighted that FIEDMC was constructing state-of-the-art infrastructure in its SEZs and a grid station would be set up to provide 15-20% cheap electricity to industries. A shuttle train would also be launched for labour.
Published in The Express Tribune, November 15th, 2020.
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