- PM performs groundbreaking of SeZ in Faisalabad
FAISALABAD – Prime Minister Imran Khan Friday said that the Special Economic Zones (SEZs) will attract relocating Chinese industries as Pakistan is providing enabling environment for the Chinese industries.
“There are many industries that wish to relocate from China. China’s Premier Li Keqiang told me that if we provide enabling environment, the Chinese government will push Chinese industries to relocate to Pakistan. We had yet to provide them the environment for them to relocate to Pakistan. This special economic zone is that environment that China seeks,” said the prime minister while addressing the participants at the groundbreaking ceremony of 4,000-acre state-of-the-art Allama Iqbal Industrial City in Faisalabad.
“The Chinese industrialists will not only invest in Pakistan, but transfer technology and increase our productivity. China is a model for industrial development in Pakistan. The roadmap now is to industrialise the country and also focus on boosting export,” said the premier.
The industrial city, meant for housing foreign and local investors besides giving impetus to economic activities in the country, is a mega project of the Special Economic Zone of Faisalabad Industrial Estate Development and Management Company (FIEDMC) under the China-Pakistan Economic Corridor.
The city, which houses one of the three SEZs being developed in Pakistan on a priority basis to facilitate Chinese investment under the multi-billion-dollar China Pakistan Economic Corridor (CPEC), is meant for housing foreign and local investors besides giving impetus to economic activities in the country.
Imran Khan said that Allama Iqbal Industrial Zone is a massive step towards success of Pakistan in the New Year (2020) which would help alleviate poverty from Pakistan.
“We are focusing on development of four major areas in 2020 including industrial sector, agriculture sector, tourism sector and technical education centers.
He stressed that Pakistan was on its way to industrialization in 1960s but the policies of 1970s derailed the country from the path of development.
Industrial zone will make significant role in Pakistan economy. The total area of land is 32,000 acres and it will be completed in 9 phases. The first phase will be completed in two years. The project will produce more than 300,000 jobs for the local people. The government is providing all types of facilities to investors include electricity, water sewerage system, gas and rescue 1122. Around 500,000 trees would be planted in the industrial zone to help provide clean environment. The government will develop an expo center, technical training center besides providing shuttle service in economic zone. The total investment of the project is Rs 400 billion and initially the Chinese companies will invest Rs 125 billion and Pakistan will invest Rs 35 million.
Pakistan and China have agreed to develop nine SEZs across the country and decided to complete three on a priority basis. The decision to set up the special zones was taken after Chinese officials time and again cited the absence of organised, developed industrial land in the country for the delay in the relocation of manufacturing facilities here from China.
