Efforts on to spur industrial activities in SEZs: PM

FAISALABAD: Prime Minister Imran Khan Wednesday said the government was focused on bringing in ‘ease of doing business’ and attracting investment to promote industrialization in the Special Economic Zones (SEZs).

The prime minister, chairing a meeting with the Faisalabad Chamber of Commerce and Industries (FCCI), said the government was also striving for providing low-cost electricity and gas supply to the industries for reducing their business cost.

The FCCI office-bearers told the prime minister that on public-private partnership, the business community of Faisalabad wanted to establish an airport, a hospital, and a theme park in the city. The objective of the said development projects was to provide the facilities of international standards to the foreign investors for attracting their investment in small and medium industries, particularly textiles, poultry and information technology.

The FCCI president thanked the prime minister for taking a keen interest in the revival of industries, as well as, unprecedented support from his cabinet members.

The prime minister was told that owing to the business-friendly policies, the country got a foreign direct investment of $1.2 billion during the last three and a half years.

Moreover, 282 industries had been established in Faisalabad Industrial Estate Development and Management Company since 2018 against just 25 from 2005 to 2018.

Besides import substitution of 40% in tile manufacturing and 60% in the baby diapers industries had been received.

The country’s exports had also increased from $24 billion to $30 billion due to the government’s pro-business policies, it was further informed.

The prime minister instructed the authorities concerned to take all-out measures for the promotion of industrialization to create jobs for the youth.

He told the meeting that all the government’s measures for the promotion of industries were part of the Pakistan Tehreek-e-Insaf’s manifesto and directed all the federal and provincial ministries and departments to ensure its implementation.