Lahore: According to a publication, Prime Minister Imran Khan is all set to inaugurate the Allama Iqbal Industrial City today (January 3). A project of the Faisalabad Industrial Estate Development & Management Company (FIEDMC), the said special economic zone (SEZ) is being developed under the China-Pakistan Economic Corridor (CPEC) project framework.
According to FIEDMC Chairman Mian Kashif Ashfaq, Prime Minister (PM) Imran Khan is expected to perform the groundbreaking ceremony. Talking to media persons on Wednesday, he added that the said facility would house both foreign and local investors; in addition to boosting economic activities in the country.
The FIEDMC chairman stated that the incumbent government was focusing on the economic growth of Pakistan. He added that this project would create lucrative investment opportunities and improve the local economy by reducing the trade deficit.
Ashfaq revealed that the Allama Iqbal Industrial City would house around 400 industries and provide a significant number of employment opportunities. He added that the authorities concerned were inducing local and foreign investments worth PKR 400 billion and USD 200 million, respectively, into this project, along with carrying out its development on a fast-track basis.
