FAISALABAD: Industrialists must exploit the huge untapped potential of the capital market to upgrade and extend their existing units, said Malik Dilavez Chief Executive Officer (CEO) of the Dollar East (Exchange Company).
In a meeting with Senior Vice President (SVP) Faisalabad Chamber of Commerce & Industry (FCCI) Chaudhary Talat Mahmood, he said that non-availability of capital was a major hurdle in the up-gradation and expansion of the existing units and businesses.
He said that many industrial groups of Karachi were planning to shift to Faisalabad as it was more secure and comparatively cheaper in terms of land, infrastructure and labour. “Similarly, ten years tax holiday is also an additional benefit”, he said and added that Faisalabad was emerging as a major industrial hub of South Asia and maximum financial resources could be diverted towards this city for its uninterrupted growth.
He said that an awareness session on the importance of the capital market would be arranged to give basic information about this most important financial tool.
Earlier, Ch Talat Mahmood underlined the industrial, commercial and business importance of this city and said that scattered industrial units were being shifted to modern M3 Industrial Estate and Allama Iqbal Special Economic Zone. He said that fully developed land was available in these industrial estates at most affordable rates, while buyers could immediately start construction just on the payment of 15%.
On the occasion, Khwaja Naveed Hafeez Regional Head of the Dollar East Faisalabad, Rana Fayyaz, Rana Ikramullah, Mian Abdul Waheed and Mr. Sanaullah Niazi were also present.