First ever state of the art furniture city will be developed over tract of land 150 acres in Allama Iqbal Industrial City to support Small and Medium-Sized Enterprises (SMEs) to compete the standard of international market besides boosting exports manifold and attracting foreign investment for strengthening national economy.
Mian Kashif Ashfaq, chairman Faisalabad Industrial Estate Development and Management Company (FIEDMC), disclosed this while talking to a delegation of furniture exporters here on Monday at FIEDMC Camp Office.
He said they would provide infrastructure to furniture manufacturers besides offering all types of solution through one-window operation to help them in dealing with federal and provincial departments. He said projects of such important should not be victim of redtapism.
He said FIEDMC would be made a facilitation centre for investors too. By launching one window operation, they will provide facilities to the investors under one umbrella. He said there were vast opportunities of investment in various industrial sectors and we have to get benefit fully from these opportunities.
He said Prime Minister Imran Khan categorically directed all the concerned departments to provide the best facilities to investors in Special Economic Zones (SEZs) and following his directions, the government has delegated authority for implementing labour, environment and other laws and for collection of local and provincial taxes. “The federal government departments including utility companies, Federal Board of Revenue and Securities and Exchange Commission will depute representatives to perform similar functions in the zone,” he added.
He further said that Pakistan Tehreek-e-Insaf (PTI) government under the dynamic leadership of Prime Minister Imran Khan has also offered a policy package to attract potential local and foreign investors and manufacturers.
“The incentive package includes onetime exemption from all custom duties and taxes on plant and machinery imported into Pakistan for installation in Special Economic Zones,” he added.