ISLAMABAD, Dec 3 (APP):Faisalabad Industrial Estate Development and Management Company (FIEDMC) Chairman Mian Kashif Tuesday said that due to hectic efforts of the incumbent government, Pakistan has become an attractive destination of the foreign investors and there was an ample scope for more cooperation in fields of energy, agriculture, communication, auto, chemical and textile.
He expressed these views while talking to a delegation of investors who called on him at the FIEDMC Camp Office here Tuesday,” says a press release issued here.
Mian Kashif said it was largely because of the new Special Economic Zones under China Pakistan Economic Corridor especially FIEDMC with complete tax exemptions to the investors. “This in itself serves as a great incentive for the industrialists and international companies,” he added.
He further said this prospect was not only lucrative for the investors, but the Foreign Direct Investment (FDI) helps the local economy by essentially bridging the trade deficit. He hoped that the continuous reforms of the government would bring Pakistan into top 80 countries next year.
He said that Pakistan’s ranking had improved in six indicators i.e. starting a business, dealing with construction permits, getting electricity, registering property, paying taxes and trading across borders which made Pakistan in top ten business reformer countries.
This will also facilitate the other countries to investment in CPEC related projects, which will connect South Asia with Central Asia and Europe.
Economic sovereignty is the key to comprehensive development,” he said regretting that this was generally ignored and weak stance adopted by previous political governments exposed the country to steady increase in the energy cost affecting entire economy.
Mian Kashif further said public private partnership in industries will be helpful in growing the local industry and attracting foreign investor for joint ventures.
He reiterated his earlier stance that they would use all available resources to provide the best facilities to their customers so that industrial revolution would be brought not only in Faisalabad, but also across the country. Mian Kashif expressed satisfaction over the pace of development in M3 industrial city and Allama Iqbal Industrial Estate besides approval of expenditure.