Minister reviews industrial colonization

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Senior Provincial Minister Mian Aslam Iqbal reviewed colonization of industrial estates, pricing of plots and provision of infrastructure, while chairing a meeting in this regard held here at Punjab Board of Investment and Trade (PBIT) on Wednesday.

PBIT Chairman Fazeel Asif, Additional Secretary Commerce, Chairman FIEDMC (Faisalabad Industrial Estate Development and Management Company) Chairman and CEOs FIEDMC and PIEDMC (Punjab) were also present.

The meeting decided to lease instead of selling plots to foreign investors in industrial estates, for this purpose a comprehensive and attractive lease policy would be made through consultation.

The Senior Provincial Minister said that Punjab’s Special Economic Zones were engines of economic development, asserting that 100 percent industrialization of industrial estates was the government’s policy.

He said new employment opportunities could be generated by speeding up the process of industrialization.

He said that a comprehensive and clear agreement should be made with the buyers of plotsin industrial estates regarding industrialization and local investors should be encouraged.

The minister directed the authorities concerned to conduct a performance and special audit of FIEDMC and its affairs should be streamlined.

He said that the provision of infrastructure in industrial estates and the process of industrialization should be accelerated.