Islamabad: Prime Minister Imran Khan will inaugurate the Allama Iqbal Industrial City in December, according to a news report. This will be a fully-equipped facility with modern infrastructure, and is meant to boost the economy and generate employment.
This project is part of the China-Pakistan Economic Corridor (CPEC), and is expected to increase trade and investment on the local and international levels. This is in line with the government’s goals, and the land acquisition for this project will begin soon.
Chairman Faisalabad Industrial Estate Development and Management Company (FIEDMC) Mian Kashif Ashfaq revealed this information to a delegation of domestic and international investors at Camp Office. He stated that this new industrial city will feature 350-400 mega industrial units, and would lead to the creation of 250,000 – 300,000 new jobs. He further added that the government will offer excellent incentive packages to investors, in order to attract millions of dollars in foreign direct investment. To date, many Memoranda of Understanding (MOUs) have also been signed for participation in this Special Economic Zone.