Islamabad: Advisor to PM on Commerce and Investment Abdul Razak Dawood announced that a United Arab Emirates (UAE)-based energy firm will invest USD 15 million in Faisalabad Special Economic Zone (SEZ) in coming months, according to a post issued from his Twitter handle on Thursday (December 16).
According to sources, the energy company ‘Brothers Gas’ would carry out the investment plan in three stages, the first of which will include the building of an Aerosol Propellant Gas (APG) facility. In addition, the firm will progressively begin producing refrigerant gasses as well as Abu Dhabi National Oil Company (ADNOC) lubricant goods. The adviser also praised the Board of Investment (BoI) for creating a business-friendly atmosphere that facilitated the mentioned investment. He also stated that multinational corporations’ investment in Pakistan’s newly formed SEZ demonstrates growing trust in the government’s policies regarding ease of doing business.
Furthermore, the Minister of State and Chairman of the Board of Investment, Muhammad Azfar Ahsan, stated that the BOI is making every effort to attract Foreign Direct Investment (FDI) by making rules simple for businesses. He also hinted that there are unique provisions for interested enterprises to invest in 22 approved SEZs.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
