Industrial revolution on the cards: BOI chairman

Chairman Board of Investment (BOI) Zubair Gilani Friday said industrial revolution is on cards in Pakistan due to effective and positive policies of the government in regard of developing Special Economic Zones under China Pakistan Economic Corridor(CPEC).

Chairman BOI visited Faisalabad Industrial Estate Development and Management Company (FIEDMC) along with Chairman FIEDMC Mian Kashif Ashfaq, said a press release.

Chairman Zubair Gilani said on the occasion that Allama Iqbal Industrial City is the most important project of CPEC and Prime Minister Imran Khan is taking personal interest for its earlier completion.

He said we have finalized a set of incentives that will not hinder existing companies, but at the same time, will encourage Pakistani and international companies to come in from abroad that will produce goods to export to regional and international markets.

He said the government is focusing on labor-intensive, import-substituting or exporting industries in the SEZs and we have 200 million people, of which 60% are under the age of 30, and we need to provide them with jobs. "Therefore, the focus is on export producing companies in the SEZs; textiles, agriculture, livestock, meat, dairy, cheese, fruits, processed food of all types, pharmaceuticals, and the auto industry," he added.

Zubair Gilani said the BOI was strengthening its capacity by having specific desks and teams to deal with investors from different countries, as well as by working on important assignments, including all SEZs. He further said the government was committed to promote and encourage the SMEs at every level as SMEs were the backbone of economy.

He also appreciated FIEDMC Chairman Mian Kashif Ashfaq for his untiring efforts to accelerate development process of Allama Iqbal Industrial City.

On this occasion, Mian Kashif said Prime Minister Imran Khan will inaugurate Allama Iqbal Industrial City by the end of this month and arrangements have been finalized in this regard with the full cooperation of Chief Minister Punjab Usman Buzdar.

He said this is the most suitable project for setting up industries and FIEDMC would be progressed further through cooperation of BOI.