150 industries shut down in Faisalabad
Over 150 industries in Faisalabad have shut down due to security concerns and policy-related issues, leading to unemployment for nearly 150,000 workers, representatives of the business community told Federal Minister for Board of Investment Qaiser Ahmed Sheikh during his visit to the city.
The issue was raised during a meeting between the federal minister and office-bearers of the Faisalabad Chamber of Commerce and Industry (FCCI), where industrialists said several businesses had also relocated their units abroad amid mounting challenges faced by the sector.
Earlier, the federal minister visited the Faisalabad Industrial Estate Development and Management Company (FIEDMC) to review the progress of Special Economic Zones (SEZs) and assess issues related to their development and population.
According to an official statement issued on Tuesday, the minister said FIEDMC is a key hub of Pakistan's industrial development and that the government, under the leadership of Prime Minister Shehbaz Sharif, is committed to addressing issues faced by the industrial community.
He said existing bottlenecks at FIEDMC would be addressed to make the industrial estate more functional, stable and attractive for both local and foreign investment. Referring to his association with district Chiniot, internationally recognised for its furniture industry, the minister said he understands the importance of industry and the practical challenges faced by industrialists. The minister said investment promotion remains a government priority, as industrial growth is fundamental to strengthening the national economy. Coming from an industrial family, he said the concerns raised by the business community reflect real, on-ground issues rather than procedural matters.
Acknowledging that challenges exist on both sides, he said collective efforts are required to move the country forward. He pointed to recent improvements in the economy, including an increase in foreign exchange reserves, and said the finance minister has been directed to maintain continuous engagement with stakeholders to ensure practical resolution of industrial issues.
Earlier, Chairman FIEDMC Rana Azhar Waqar briefed the minister on the progress of SEZs, stating that by 2025, 90 factories had been established at FIEDMC. He said 26 additional factories have been set up, while development work on 31 factories is currently under way. Additional Secretary Board of Investment Arfa, Chief Executive Officer FIEDMC Qurratul Ain and other senior officials were also present.
During the meeting with FCCI, President Farooq Yousaf Sheikh and Vice President Asim Munir outlined challenges faced by the industrial sector, including security and policy-related constraints. He said more than 150 industries have shut down, resulting in unemployment for nearly 150,000 workers, while several industrialists have relocated their units abroad. The minister added the concerns raised by the business community were genuine and assured that they would not be ignored, adding that measures would be taken to strengthen FIEDMC and other industrial zones.
Later, the minister visited the factory of industrialist Mian Mansha, where discussions were held on direct container transportation from Karachi Port to FIEDMC, reduction in logistics costs, rail-based transportation and improved railway connectivity linking Faisalabad and Chiniot with major trade routes. Mian Mansha offered to prepare feasibility studies and extend cooperation in terms of funding and financing to expedite these projects.
The minister said the Board of Investment would continue to work with stakeholders to facilitate industrialists, strengthen SEZs and promote a business-friendly investment climate across the country.