LAHORE: The first phase of modern Allama Iqbal Industrial City (AIIC), the first mega project in Punjab under China-Pakistan Economic Corridor(CPEC) has been completed with a cost of Rs 7.5 billion.
Faisalabad Industrial Estate Development and Management Company (FIEDMC) Chairman Mian Kashif Ashfaq disclosed this to media after a meeting with a delegation of exporters and investors here Wednesday.
He said that the government ensured provision of basic infrastructure including gas, electricity, roads, civic centre etc., adding that nearly 20 industrial units had started their production which covered one-third of land of first phase of Allama Iqbal Industrial City, while remaining would go into operation by this year end.
He mentioned that Prime Minister Imran Khan expressed satisfaction over the pace of work and directed the authorities concerned to minimize the time of allotment of industrial plots to foreign and local investors and all investors must be facilitated through one-window operation.
FIEDMC Chairman said that AIIC was being completed on fast track basis and the project sprawling over 3, 300 acres land, featured a furniture city, apparel park, modern business centre and the largest expo centre for displaying ‘Made in Pakistan’ products to attract local and foreign buyers.
In line with transparent merit-based policy of Punjab Chief Minister Sardar Usman Buzdar, industrial plots were being allotted to export based industries, imports substitute industries and relocation of local industries, he said.
Kashif Ashfaq said that the government was fully committed to provide best possible package of incentives to foreign and local investors to boost industrial production and strengthen the national economy.
He said the government had already approved 500 mega watt grid station and 40 mmcf gas provision to meet demands of the industrial units.