The Punjab in general and Faisalabad in particular is ready to play a pivotal role to strengthen economy while government is also making serious efforts to attract maximum Foreign Direct Investment (FDI) to promote trade and industry in Pakistan.
Inaugurating the second "Faisalabad Expo-2019" in Expo Centre Lahore, provincial minister for Industry, Commerce and Investment Aslam Iqbal said that Pakistan is passing through a deep crisis; however, the government has carved out a comprehensive strategy to revive economy on sustained basis. Presenting overall performance of the government during last eight months, he said that exports have recorded a modest increase while imports have decreased considerably. "Similarly, foreign remittances are also increasing steadily", he added. He also mentioned the other steps taken by the government to cut down the "cost of doing business" in addition to providing a conducive business climate in country. He said that recent measures have attracted many foreign investors who have planned to invest in mega industrial projects. He also said that Prime Minister Imran Khan's recent statement to give good news within next three weeks and hoped that new offshore reservoirs of oil and gas being spudded near Karachi will help Pakistan to overcome the prolonged energy crisis on permanent basis. He further said that with this recovery Pakistan will permanently become an economically stable country for the coming many decades. "It will also help Pakistan to overcome the menace of poverty, illiteracy and diseases in addition to creating maximum jobs for the Pakistani youth", he hoped.
Mian Aslam Iqbal particularly appreciated the role of Faisalabad in enhancing textile export and said that we are trying to facilitate Faisalabad so that it could double its efforts to bridge the widening gap between imports and exports. He underlined the effective marketing of the Pakistani products and said that Faisalabad has taken a bold initiative to showcase their products in provincial metropolis through this second "Expo". He said that he has already allocated a space in M3 Industrial City for the construction of a state of the Art Expo Centre in Faisalabad. He said that it will provide an opportunity to the businessmen of Faisalabad to regularly organize expos to introduce their quality products in a congenial, presentable and peaceful environment. He assured that he will also take up issue of the funding for this mega project with federal government as he had already requested Razaq Dawood Adviser to the Prime Minister on Industry, Commerce & Investment to release required funds from Export Development Fund (EDF) for the construction of this Expo Center. Appreciating the quality of "Made in Faisalabad Products", he told that it is very encouraging that our industrialists are manufacturing world class and most popular brands for the international retail store chains. He said that time has now come that our industrialists should introduce their own Brands in order to fetch better price of their products in addition to bringing good name for Pakistan.
He said that biggest M3 industrial estate is being developed in Faisalabad. "The entire 4200 acres of land have already been sold out while Punjab government has sanctioned Rs 6 billion for the purchase of additional 3000 acres of land for its second phase.
He also requested the industrialists to introduce new technologies in addition to upgrading their units to further enhance the quality of their products. He also acknowledged the role of SME sector and told that government is providing best and maximum facilities to this sector as future growth of Pakistan is directly linked with the SME sector. "The growth of SME sector is also imperative to create maximum job opportunities for our burgeoning population", he added.
Earlier President Syed Zia Alumdar Hussain said that Faisalabad is fabricating world class products and in order to introduce these products in domestic markets an aggressing marketing campaign has been launched. "In this connection FCCI is regularly organizing Expos to showcase made in Faisalabad products", he added.