Faisalabad Chamber of Commerce & Industry (FCCI) is actively considering a proposal to setup an incubation centre for business starters of this region, said Shabbir Hussain Chawla President FCCI. He was giving briefing to a delegation of Sahiwal Chamber of Commerce & Industry (SCCI) that visited FCCI here on Tuesday.
He said that Faisalabad is swarming with robust Small & Medium Enterprises (SME) sector which is the main strength of this dynamic industrial and business hub of the country. He said that young and vibrant entrepreneurs with innovative ideas are imperative to give a quantum jump to the economic growth of Pakistan and in this connection FCCI is extending best possible facility to the new business starters.
Regarding FCCI, he said that it is the third largest city which is second in revenue generation. He said that although textile is the mainstay of the national economy yet many other sectors including soap, edible oil, chemicals and agriculture are also contributing their due role in the overall growth of the economy. He told that Faisalabad has a unique privilege to contribute 60 percent share in the total textile export of Pakistan. "It is also fulfilling 80 percent domestic demand of clothing", he said and added that it has more than 85 percent composite units with vibrant SME sectors.
He told that M3 Industrial Estate sprawling over 4500 acers of land has been sold out whereas further demand of 6000 acers was pending. He said that government has now decided to acquire 3500 acers of land for the second phase of this industrial estate.
He also mentioned recent development in which Asia's biggest tin pack Coca Cola plant has been established in it while a Hyundai assembly plant was also under completion.
Chawla told that Faisalabad has made a phenomenal development during last 40 to 50 years and according to recent economic survey of Pakistan, it will become fastest growing city of Pakistan during next 5 years.
About FCCI, he said that it has 6000 members within its fold including 1800 from corporate sector. "FCCI has established more than one hundred Standing Committees to deal with different sectors and trades", he said and added that these committees have been mandated to identify their sector specific problems in addition to suggesting viable proposals to solve their core issues. He told that the Executive Committee of FCCI meets every month to discuss its overall performance and take important decisions. "FCCI secretariat is authorized to issue Certificate of Origins (CO) in addition to Visa Recommendations letter to its members", he added. Similarly R&D Cell also analyze the economic policies and give its recommendations to protect the basic and legitimate interests of the Business Community at the policy making level. He also mentioned a successful "Made in Faisalabad Expo" organized recently at Lahore for the promotion of local brands and assured that he will also extend invitation to the office bearers of the SCCI so that they could also attend FCCI meetings with national and foreign dignitaries.
Rizwan Shehzad president SCCI thanked Shabbir Hussain Chawla for inviting them to visit FCCI. He told that SCCI was created just 14 years ago and it intends to improve its operational capabilities by exploiting the experience of other successful chambers like FCCI.
He also expressed his willingness to sign Memorandum of Understanding (MoU) with R&D Cell of FCCI for the training and capacity building of their concerned staff. He also invited the office bearers of FCCI to visit SCCI so that close liaison and working relationship could be developing between the two chambers.