Allama Iqbal Industrial City: PM likely to perform groundbreaking ceremony tomorrow

The groundbreaking ceremony of Allama Iqbal Industrial City, a mega prioritized project of Special Economic Zone (SEZ) of Faisalabad Industrial Estate Development and Management Company (FIEDMC) under CPEC will be held on January 03.

Prime Minister Imran Khan is expected to inaugurate this project which will house foreign and local investors, besides giving impetus to economic activities in the country, said FIEDMC Chairman Mian Kashif Ashfaq while talking to media here on Wednesday.

He said that the incumbent government focused on the economic growth in the country. This prospect is not only lucrative for the investors but the Foreign Direct Investment (FDI) helps the local economy by essentially bridging the trade deficit. The project will house as many as 400 industries besides giving employment to 3000, 00 people. He said approximately Rs 400 billion local and nearly 200 million dollar foreign investments would be pumped into this project, development of which was being carried out on a fast track basis, he said.