SEZs to enable Chinese industries relocation

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In what could be a good development, Prime Minister Imran Khan, while performing the ground breaking of Allama Iqbal Industrial city in Faisalabad on Friday announced that the first of three prioritized Special Economic Zones would be established under game-changer project CPEC, which will provide Chinese industries the requisite environment to relocate to Pakistan. “There are many industries that wish to relocate from China. We had yet to provide them the environment for them to relocate to Pakistan. This special economic zone is that environment that China seeks,” said the prime minister. “China’s Premier Li has said clearly that if we provide them the environment, they will push Chinese industries to Pakistan.
“They will not only invest in Pakistan, but transfer technology and increase our productivity,” said the premier. The industrial city, meant for housing foreign and local investors besides giving impetus to economic activities in the country, is a mega project of SEZ of Faisalabad Industrial Estate Development and Management Company (FIEDMC) under the CPEC.Hence, the groundbreaking of Faisalabad Special Economic Zone is an important development and our authorities concerned must expedite efforts to ensure timely completion of work on it with provision of all amenities and facilities. Faisalabad SEZ is strategically located on Motorway (M-4) and it is expected to create three hundred thousand jobs for the people of Punjab in the next five years. This SEZ alone is to attract approximately four hundred billion dollars of investment in automobiles, value added textiles, engineering, pharmaceutical, food processing, chemicals, construction material and packaging. The relocation of Chinese industrial units will undoubtedly revolutionize our industrial sector, help us enhance import substitution and lift up exports besides benefitting from the Chinese technology in different sectors.
Besides, it will further strengthen and cement the already existing brotherly relations between the two countries.

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