Islamabad: China-Pakistan Economic Corridor (CPEC) Authority Chairman (retired) Lt Gen Asim Saleem Bajwa on Monday revealed that the development work on Allama Iqbal Special Economic Zone (SEZ) in Faisalabad is currently underway and that 33% of its land has been sold to 69 investors, according to news sources.
He announced these developments through his official Twitter handle where he also revealed that the total saleable land in the Allama Iqbal SEZ was 2,276 acres – out of which 182 acres have been purchases by seven foreign investors. Moreover, Mr Bajwa stated that several national and international firms have already launched construction on their projects.
In addition to the economic zone in Faisalabad, three more such zones are being established in different parts of the county. These SEZs are estimated to create as many as 1.47 million jobs and will boost the local industry to achieve sustainable economic growth.
As per a senior official of the Board of Investment (BoI), other SEZs being developed include ‘Rashakai M-1 Nowshera, Dhabeji Thatta, and Bostan, Balochistan’. He said that these economic zones will create 475,000 direct and over a million indirect job across Pakistan.