The first phase of the Allama Iqbal Industrial City, the first economic zone under the China-Pakistan Economic Corridor (CPEC), has been completed where more than ten companies have started setting up their industrial plants while a total area of more than 1,000 acres has been allotted.
Expressing these views, the chairman of the Faisalabad Industrial Estate Development and Management Company (FIEDMC), Mian Kashif Ashfaq, said that Allama Iqbal Industrial City was a historic project of the present government which reflected the vision of Prime Minister Imran Khan and the chief minister.
State-of-the-art facilities will be provided at the Allama Iqbal Industrial City, which will be provided with electricity and gas supply, a modern security system, and trained security staff. With the establishment of the One Window Service Center, the problems of all the industries related to the industry will be solved under one roof.
He added 300 acres have been allotted for the Pakistani community living in Saudi Arabia in Allama Iqbal Industrial City where they will set up various types of industries while 1000 acres have been allotted for China and other countries. Allama Iqbal Industrial City is expected to invest $250 billion, which will provide employment to half a million people.
The FIEDMC chairman said that Allama Iqbal Industrial City is the first project in Pakistan and the only project in Punjab to be built under C-Pac Authority where investors will have access to property special economic zone facility under which industrialists will get significant tax exemption and duty-free, missionary import facility will be provided.
Mian Kashif Ashfaq further clarified that Allama Iqbal Industrial City is located at the best location in Pakistan from where access to the whole world including Pakistan is possible.