SEZs to enhance exports to $1.5bn: FIEDMC Chairman

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ISLAMABAD: In a statement issued, Chairman Faisalabad Industrial Estate Development and Management Company (FIEDMC) Mian Kashif Ashfaq announced that the Special Economic Zones (SEZs) will enhance the country’s exports to $1.5 billion annually and boost the economy.

Investors and various major export partners including China, Turkey, Korea and Britain have invested almost $1.10 billion into Pakistan’s SEZs and are further bringing in more investors and projects to pump up the economy of Pakistan, the statement further read.

Major multinational corporations have expressed their desire to invest in various sectors of the country, especially ceramics, chemicals, steel, food processing, and automobiles.

The Faisalabad Industrial Estate Development and Management Company (FIEDMC) serves as the first example of state-of-the-art SEZ under the public-private partnership, the chairman further explained. This initiative will further flourish under the China-Pakistan Economic Corridor (CPEC), which in turn will boost the economy of Pakistan.

On the directives of Prime Minister Imran Khan, all the relevant authorities have worked to ensure timely the development of SEZs and establishing them on a priority basis.

While briefing on the Allama Iqbal Industrial City (M-3) Faisalabad, he said “almost 100% of the plots in M-3 Industrial Estate have been sold out, whereas numerous units are operational. These have added greatly to provide exportable surplus in addition to employing thousands of workers.”

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