Federal Minister for Planning, Development and Special Initiatives Asad Umran has said that taxes and other incentives will be given in special economic zones. In the shadow of FIEDMC, the Special Economic Zone will not be subject to income tax for 10 years, thus allowing foreign investment to come to Pakistan.
Asad Umar accompanied by Chairman CPEC Authority Asim Saleem Bajwa visited FIEDMC Head Office. Chairman FIEDMC Kashif Ashfaq gave a briefing on the project.
On the occasion, Asad Umar approved Jhumra Interchange. He said that Allama Iqbal Industrial City is located at the best location and it will be completed soon. ? FIEDMC is working according to the vision of Prime Minister Imran Khan.
The federal minister said the Jhumra Interchange was an important need of the hour as the investors coming to FIEDMC have to travel a long way to the industrial zone so after the establishment of Chak Jhumra Interchange they will be provided easy travel facilities.
Asad Umar said that the supply of abundant electricity and gas to the investors and industrialists in FIEDMC is the top priority for which a grid station has been inaugurated and the federal government will provide all possible assistance to FIEDMC.
He clarified that FIEDMC is playing a key role in promoting industrialization. Allama Iqbal Industrial City is located at the best location and the Industrial City will be completed soon. He said that the first phase of Allama Iqbal Industrial City is nearing completion.
FIEDMC Chairman Mian Kashif Ashfaq said that one window service center has been started for the convenience of industrialists. We want to settle M3 Industrial City and Allama Iqbal Industrial City as soon as possible. He said that in this regard a special account officer is attached with each investor and he is provided full support from the time of registration of the company till the commencement of production unit. He said that it also includes services ranging from supply of electricity and gas and approval of maps to obtaining permits from various government departments.
Apart from that Textile boom clearly indicates that Faisalabad is the main and major beneficiary of the PTI policies during the last two and a half years, said Federal Minister for Planning, Development and Special Initiatives Mr. Asad Umar.
He was addressing a meeting of the business community in Faisalabad Chamber of Commerce and Industry (FCCI) here today. He said that now we are working on a new textile policy and certainly it will help Pakistan to maintain the current tempo of growth. He categorically denied that textile policy was not implemented in its real spirit and said that the textile boom clearly indicates that this policy has yielded positive results and now our focus is on new textile policy aimed to stabilize the gains of present policy.