Faisalabad (Staff Report/Agencies): Prime Minister Imran Khan on Friday performed the groundbreaking of the state-of-the-art Allama Iqbal Industrial City in Faisalabad.
According to the Radio Pakistan, Allama Iqbal Industrial City Faisalabad is the first Prioritized Special Economic Zone in Pakistan. Its Phase one will be completed in year 2021.
Allama Iqbal Industrial City is strategically located on Motorway M-4 at Sahianwala Interchange Faisalabad.
About nine Special Economic Zones have been planned under China Pakistan Economic Corridor Industrial Cooperation Framework.
Allama Iqbal Industrial City will create 300,000 Job Opportunities for the people of Punjab in next 5 years and is in line with Prime Minister's Vision of creating 10 Million Jobs.
The project will attract approximately 400 billion rupees investment in automobiles, value added textiles, engineering, pharmaceuticals, food processing, chemicals, construction materials, packaging sectors. It will contribute to the GDP of Pakistan, increase the exports of the country and will also encourage import substitution.
Three SEZs out of nine have been declared as Prioritized Special Economic Zones by Pakistan and China governments including Allama Iqbal Industrial City, Faisalabad in Punjab, Rashakai SEZ in Khyber Pakhtunkhwa and Dhabajee SEZ in Sindh.
Keeping in view the importance of CPEC, government of Punjab has assigned high priority to this project and providing all the necessary support for the early completion of the project.
Earlier, PM Khan inaugurated Panagah for homeless people in Faisalabad on Friday. He visited different parts of the shelter home and inspected the facilities being provided there. He was also briefed about the facilities. The Prime Minister joined the settlers of the Panagah in meal.