LAHORE: Mian Kashif Ashfaq, Chairman Faisalabad Industrial Estate Development and Management Company (FIEDMC) Tuesday said Pakistan is pursuing the policy of promoting stronger trade links with regional countries to increase its exports and slash the trade deficit under the guideline of Prime Minister Imran Khan’s vision.
Presiding over a FIEDMC annual meeting of board of directors via video link from camp office here, he said the government is determined to steer Special Economic Zones towards promoting regional trade and export-led growth besides encouraging investment culture in the country. He said Allama Iqbal Industrial City provided huge opportunity for the foreign and local investors under one window operation.
“Economic sovereignty is the key to comprehensive development,” he said regretting that this was generally ignored and weak stance adopted by previous political governments exposed the country to steady increase in the energy cost affecting entire economy.
He said he was a big supporter of foreign investment but would expect that this should now come forward with shift and transfer of technology. He was of the opinion that an efficient balance has to be maintained to ensure that country attracting investment may benefit on immediate basis as well as on long term basis.
Mian Kashif further said public private partnership in industries will be helpful in growing the local industry and attracting foreign investor for joint ventures.
He also highlighted Pakistan’s reforms agenda such as steps to improve Pakistan’s ranking on the ease of doing business and structural changes in microeconomic sectors particularly industrialization in the country.
He reiterated his earlier stance that they would use all available resources to provide the best facilities to their customers so that industrial revolution would be brought not only in Faisalabad but also across the country.
Mian Kashif expressed satisfaction over the pace of development in M3 industrial city and Allama Iqbal Industrial estate besides approval of expenditure.