SEZs formally launched to accelerate economic activities and generate employment
LAHORE: The provincial government has invited bids for the development of Allama Iqbal Industrial City. The decision was made on Wednesday after formally launching priority special economic zones (SEZ), under the China-Pakistan Economic Corridor (CPEC), to accelerate economic activities and generate employment opportunities for the youth.
Speaking to The Express Tribune, Faisalabad Industrial Estate Development and Management Company (FIEDMC) Chairman Mian Kashif Ashfaq said that the Allama Iqbal Industrial City has been planned over an area of 4,000 acres. He added it is strategically located on Motorway M-4 near Sahianwala Interchange, Faisalabad.
He added that the main boulevard, entrance gate and boundary wall will be completed within six months. “These special economic zones are the largest in the country, spread over 8,500 acres.”
He further said that M-3 Industrial City has attracted foreign direct investment of US$1.8 billion and investment from local industrialists.
The chairman highlighted that more than 22 Chinese companies have started building their infrastructure in M-3 Industrial City. “We have developed a supportive infrastructure and established a one-window service centre, especially for Chinese companies.”
Speaking on the connectivity of Allama Iqbal and M-3 industrial cities with other parts of the country, he explained that the industrial cities are connected with Karachi port, in the south, via Motorway M-4. He added they are also connected to the deep seaport of Gwadar. In the North, they are connected with Islamabad, Peshawar, China, Afghanistan and Central Asian Republics. “The average lead time to all the major markets of the province, for finished product delivery, is one hour and 45 minutes.”
Published in The Express Tribune, November 21st, 2019.