FAISALABAD: The allottee industrialists of M3 industrial City have been directed to complete construction of their plots within two years, otherwise, allotment of their plots will be cancelled.
This was decided during a meeting of Board of Directors (BoD) of Faisalabad Industrial Estate Development & Management Company (FIEDMC) held with its chairman Mian Kashif Ashfaq in the chair.
He said that FIEDMC had allotted plots in M3 Industrial City to its customers with the best facilities at very reasonable prices so that industrialization could be promoted in this area.
He said that some customers were allotted plots two or three years ago but they did not install their plants still which is against the agreement. Therefore, it has been decided in the meeting of FIEDMC Board of Directors that allotments of all such industrialists should be canceled who do not want to set up their plants immediately.
He said that hundreds of people from all over the world including Pakistan want to invest in M3 Industrial City and these plots will be allotted to them so that they could make quick investments in this city.
In future also if any one does not complete construction within the stipulated time, then the FIEDMC will cancel his allotment too, he added.