Engineering Post Report
First phase of Allama Iqbal Industrial City Economic Zone under the umbrella of great game changer China-Pakistan Economic Corridor (CPEC) has been completed in Faisalabad which has the reputation and known as the Manchestor of Pakistan.
According to the Faisalabad Industrial Estate Development and Management Company sources, more than 10 companies have already started setting up their industrial plants. More than 1000 acres have been sold out for this economic zone.
State of the art facilities are planned to be provided at the industrial city along with adequate electricity, gas, security system. Under One Window Service Centre, problems of all the plants will be solved promptly under one roof .
The sources said that out of total area, 300 acres have been reserved for the Pakistani community settled and working in Saudi Arabia while substantial area has also been allotted for prospective investors from China and other countries.
An estimated investment of $ 250 billion is expected in the Allama Iqbal Industrial City and the plants to be set up there will generate direct and indirect employment opportunities to about half a million people.
The sources maintained that Allama Iqbal Industrial City is the first project in Pakistan and the only project of its kind in Punjab province being built and developed under CPEC Authority where the prospective investors will have easy access to property special economic zone facilities with the industrialists getting significant tax exemptions and initiatives including duty free machinery import etc.
Location-wise, the Allama Iqbal Industrial City Economic Zone is located at the best location from where easy access is available not only to all over Pakistan but also the whole world.
