Lahore: Advisor to Prime Minister on Commerce Razak Dawood said on Saturday that the government was fully committed to provide the best possible package of incentives to foreign and local investors.
He added that the facilitation of investors will promote industrial production to strengthen the national economy, thereby providing better living conditions for the poor in society.
He expressed these views while visiting the office of the Faisalabad Industrial Property Development and Management Company (FIEDMC).
The PM consultant also reviewed the progress of the Allama Iqbal Industrial City (AIIC), the first large-scale project in the China-Pakistan Economic Corridor (CPEC) Punjab.
FIEDMC Chairman Mian Kashif Ashfaq said when briefing the consultant that the AIIC project is being implemented quickly according to the instructions of Prime Minister Imran Khan. He said that the gas, electricity, water, infrastructure, municipal center and other facilities required by the new industrial unit have been provided.
He told the consultant that nearly 20 industrial units have already started production, covering one-third of the land of the first phase of the Alama Iqbal Industrial City, and the rest will be put into operation by the end of the year.
He said that the Prime Minister has instructed to minimize the time spent on allocating industrial land to foreign and local investors, and must also provide convenience for all investors through a one-stop operation.
He said that the AIIC project covering an area of more than 3,300 acres is being completed quickly, including a furniture city, a clothing park, a modern business center and the largest exhibition center for Pakistan-made products to attract domestic and foreign buyers.
He added that so far, 7.5 billion rupees have been spent to complete the first phase of AIIC.
Mian Kashif Ashfaq said that in accordance with Chief Minister Punjab Usman Buzdar’s transparency policy, industrial land is allocated to export-based industries, import substitution industries and the relocation of local industries.
Taking this opportunity, Razak Dawood is satisfied with the speed and progress of the project so far, and thanks FIEDMC Chairman Mian Kashif Ashfaq for his efforts in this regard.