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 investors’ facilitation would boost industrial production to strengthen the national economy. He expressed these views during his visit to the office of Faisalabad Industrial Estate Development and Management Company (FIEDMC) here.
The PM advisor also reviewed progress on the Allama Iqbal Industrial City (AIIC), the first mega project of Punjab under the China Pakistan Economic Corridor (CPEC).
Briefing the advisor, FIEDMC Chairman Mian Kashif Ashfaq said the AIIC project was being executed on a fast track basis on the directive of Prime Minister Imran Khan. He said that facility of gas, power, water and basic infrastructure, civic centre etc required for new industrial units had been provided.
He informed the advisor that nearly 20 industrial units had started their production which covered one third of land of the first phase of Allama Iqbal Industrial city while remaining would go into operation by the end of year.
He said the prime minister had directed to minimize the time of allotment of industrial plots to foreign and local investors, besides all investors must also be facilitated through one-window operation.
He said the AIIC project spread over 3,300 acres of land was being completed on fast track which included furniture city, apparel park, modern business centre and the largest expo centre for displaying Made in Pakistan products to attract local and foreign buyers. An amount of Rs 7.5 billion had so far been spent on the completion of first the AIIC phase, he added.
Mian Kashif Ashfaq said in line with the transparent policy of Chief Minister Punjab Usman Buzdar, industrial plots were being allotted to export-based industries, imports substitute industries and relocation of local industries.
On this occasion, Razak Dawood expressed satisfaction over the pace of development and progress of this project achieved so far and also appreciated the efforts of FIEDMC Chairman Mian Kashif Ashfaq in this regard.
Meanwhile, Prime Minister’s Advisor on Commerce and Investment, Abdul Razak Dawood and Provincial Minister for Industries and Commerce Mian Aslam Iqbal Saturday co-chaired a meeting to discuss industrialisation in the province.
Held here at Punjab Board of Investment and Trade (PBIT), the meeting discussed the issues regarding colonization of industrial estates, establishment of industrial estate and expo center in Sialkot, construction of interchange on Motorway to link Quaid-i-Azam Business Park Sheikhupura, income tax refund of PIEDMC (Punjab Industrial Estates Development and Management Company), gas and power supply to industrial zones.
PBIT Chief Executive Officer (CEO) Dr Arfa Iqbal briefed the meeting about Punjab’s participation in Dubai Expo. The meeting also decided to expedite the process of colonization in industrial zones and take action against those who had not yet established industrial units on their respective plots.
Addressing the meeting, Commerce Adviser Abdul Razak Dawood said that the federal government would extend all possible cooperation to expedite the process of colonization of industrial estates.
Federal Board of Investment and Punjab Board of Investment should jointly work out a plan to provide one-window service facility for industrialists, he added.
The PM’s Advisor also appreciated the Punjab government taking best possible steps in connection with ease of doing business.
On this occasion, Provincial Minister for Industries and Commerce Mian Aslam Iqbal said, “We have to work together to achieve the targets set by the Prime Minister.”
He added that it was necessary to set up an expo center at every divisional headquarters. He was of the view that new employment opportunities can be created only by speeding up the process of industrialization.
Punjab government was pursuing the policy of 100 percent colonization of industrial estates, he mentioned.
Giving her input, Dr Arfa Iqbal said that there should be focal persons in federal institutions to solve the problems of industrialists in special economic zones and industrial estates.
Provincial Secretary Industries and Commerce Wasif Khurshid, Chairman FIEDMC Mian Kashif Ashfaq, Chairman PIEDMC Nabeel Hashmi and officers concerned attended the meeting.