FAISALABAD: The Chief Minister's Investment Facilitation Cell (CMIFC) will not only attract local and foreign investment but also push GDP growth to above 5%, said Atif Munir Sheikh, President Faisalabad Chamber of Commerce & Industry (FCCI).
He was talking to executive committee members of the FCCI after attending the inaugural ceremony of CMIFC. He said that the ministry of industries and Investment Punjab under the direct supervision of Provincial Minister Mian Aslam Iqbal has taken fundamental steps to attract maximum investment. In this connection inspector fewer regimes is being introduced while under 'One Window Scheme' NOCs regarding 22 different Government Departments are being issued within a week to one month period. He said that NOCs will be issued within one month for high-risk industries while it could be handed over to the applicants positively within one to two weeks for low and medium risk industries. Similarly, inspector less regime will be introduced from next month and no boiler or labor inspector could harass the industrialists. He said that a new system of third parties will be introduced for the inspection. "The Government fee relating to the boiler inspection could be deposited in Government treasury while the fee of third party could be paid through cross cheque", he said and added that under the One Window Scheme first NOC has been issued to a Chinese company "Challenge Fashion". "This firm is making an investment of 150 million dollars", he added.
He further said that 22 Chinese companies have so far invested in Punjab while another 40 companies will invest during next year. He said that Mian Aslam Iqbal is optimistic that there are bright chances of maximum investment in state-of-the-art industrial estates developed by FIEDMC in Faisalabad. He said that the Punjab Government is extending the best possible facilitation to the local and foreign investors.
He also welcomed the statement of Provincial Finance Minister Hashim Jawan Bakht about the resolution of businesses related disputes. He said that business courts are being established which are bound to dispose of cases positively within 180 days.
Atif Munir Sheikh also appreciated the pro-industrial policy of Chief Minister Sardar Usman Buzdar and said that his team is making serious efforts to attract maximum investment. He hoped that these efforts would help in establishment of new, innovative and hi-tech industrial units. He further said that land is being offered to new investors at subsidized rates in M3 industrial estate and Allama Iqbal Special Economic Zone.
Copyright Business Recorder, 2021
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