Lahore: Board of Investment (BOI) Chairman Zubair Gilani recently declared Allama Iqbal Industrial City (AIIC) to be the ‘most lucrative project for investment in Pakistan’, a news source reported. He expressed his views on the matter during a visit to the Faisalabad Industrial Estate Development and Management Company (FIEDMC) on Thursday.
AIIC is being built as a priority project under the China-Pakistan Economic Corridor (CPEC) framework. It is being set up under direct orders from Prime Minister (PM) Imran Khan. BOI Chairman Gilani said that completion of this project would mark the start of an industrial era for the country.
FIEDMC Chairman Mian Kashif Ashfaq briefed BOI chairman about the AIIC project. He said that the industries being set up in AIIC would be given a 10-year tax exemption on import of machinery. Additional facilities planned for the industrial city include a technical university.
The FIEDMC chairman also revealed that the company would collaborate with the Naya Pakistan Housing Authority (NPHA) and construct 10,000 flats for AIIC labourers.