The Faisalabad Industrial Estate Development and Management Company (FIEDMC) granted “Zone Enterprises Status to 11 more international and local companies in the M3 industrial city. The industrial city is spread over an area of 4356 acres of land.
The decision to grant Zone enterprise status was taken at a high level meeting held under the chairmanship of FIEDMC Chairman Mian Kashif Ashfaq. Board of Investment (BOI) Secretary Omer Rasool, FIEDMC Chief Operating Officer (COO) Aamer Saleemi, Punjab Board of Information Technology officials and others were also present on this occasion. As a result of this status the Industry will be given a 10-year tax holiday and one time duty free import of machinery.
42 international and local companies are already enjoying same status and now the figure has been increased to 53.
FIEDMC Chairman said that These 11 companies will inject seed money of Rs43 billion investments in execution of first phase of their projects. He assured that industries operating in the FIEDMC will have an immediate access to high-quality infrastructure, un-interrupted power supply, public .facilities and support services along with simpler ease of doing business