Foreign investors pour billions into M3 estate

Minister insists govt providing business-friendly environment in Punjab

FAISALABAD:

The government is providing business-friendly environment to industrialists, exporters and traders for the promotion of economic activities in Punjab, said provincial Minister for Trade and Industries Mian Aslam Iqbal.

During a visit to the Faisalabad Industrial Estate Development and Management Company (FIEDMC) on Thursday, Iqbal said close liaison was being developed between industrialists and the government to address the outstanding issues of traders and promotion of economic activities.

“China and other countries are investing billions of rupees in the M3 Industrial Estate, which occupies over 300 acres of land and many industrial units have started production there,” he said.

“The Punjab government believes in providing a favourable work environment to industrialists and exporters, and in this regard, a simple and easy form is being introduced for payment of different types of taxes,” he said.

In addition, the government would also call off unnecessary inspection of factories and industrial units, the minister announced.

He said an attractive business model would be introduced under the Punjab business regulation reforms.

“Establishment of mega industries is being encouraged and one-window operation has been started for the facilitation of industrialists,” he said.

Published in The Express Tribune, November 27^th, 2020.

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