FAISALABAD: Chaudhary Muhammad Nawaz, President Faisalabad Chamber of Commerce and Industry (FCCI) has welcomed the recent decision to grant status of Special Economic Zone (SEZ) to M-3 Industrial City and Value Addition City Faisalabad and said that it will not only attract maximum Foreign Direct Investment (FDI) but also generate economic activities and create millions of job opportunities in addition to giving a quantum jump to national exports.
In a statement issued here, he told that SEZ Committee meeting which this important issue was taken up particularly in view of CPEC and its possible economic benefits to the local industry.
He said that M-3 Industrial City is sprawling over an area of 17.7 sq. Meters of prime land that has the distinction of being the largest industrial estate of Pakistan. He said it is strategically located on Motorway M-3, near Faisalabad city which connects north via Motorway M-2 for Islamabad, Peshawar and onwards to China, Afghanistan and Central Asian States. “It also connects in south with M-4 for the sea port of Karachi and National Trade Corridor to the deep seaport of Gawadar”, he added.
President said that this well planned and scientifically developed industrial Estate could not fully colonize due to the protracted energy crisis and unfavourable circumstances. The Board of Directors of FIEDMC under the dynamic leadership of Mian Muhammad Adrees has taken bold decision to colonize it at a much faster pace. He told that APTPMA has already inked an MOU and purchased one thousand acres of land in M-3 Industrial City for the immediate shifting of their textile processing units presently working in congested urban areas. “Out of total purchased land by APTAPMA 600 acres has already been sold out to the various units.
He said that this land mark decision of giving SEZ status will certainly attract the foreign investors as M-3 industrial estate is the most appropriate place for scientifically planned and international compliant industrial units.
He said that the industrial units located in FIEDMC–SEZ will enjoy 10 year corporate tax holiday in addition to duty free import of machinery and equipment. He appreciated efforts of Mian Adrees who has been trying his optimum best to make M-3 industrial estate as real industrial hub of the country.
