The newly appointed CEO at the Punjab Board of Investment and Trade, Amena Cheema, as a part of her her investment promotion strategy, established an SEZ Desk at PBIT. This SEZ desk has since been working tirelessly towards establishment of Special Economic Zones throughout Punjab. PBIT with the help of Industries Department, Secretary Mines and Minerals and CEO, Urban Unit, has managed to design detailed proposals for Special Economic zones to be built throughout Punjab in record time.
Three applications for SEZs were approved today by the Special Economic Zones Authority (SEZA). These are: Quaid-e-Azam Apparel Park located at M-2 (Lahore – Islamabad Motorway) at a distance of 2 KMs from Shiekhupura Interchange. Apparel Park fill focus on Woven Garment Units, Knit Garments, Embroidered Garment Units, Leather Garment Industry, Tailoring/Ready Made Garment Industry, Denim Units, Spinning & Weaving Units, Allied industries.
M3 Industrial City located on Trade Corridor of Pakistan, along Motorway M-3 South near Sahianwala Interchange, 20 KMs from Faisalabad. This 4,356 acre land will facilitate Export Oriented Industry & Foreign Direct Investments: Textile, Engineering & Construction, Chemicals, Pharmaceuticals, Electronics, FMCG, Food & Beverages, IT etc.
Value Addition City (VAC), a 225 acre facility located about 20 KMs from Faisalabad city and 1.5 KMs off Sheikhupura – Faisalabad Expressway. VAC will focus on Textile, Pharma, Engineering, Electronics, Food Processing, Construction & IT.
The approval of these SEZs was signed by Chief Minister Punjab, Muhammad Shehbaz Sharif as Chairman SEZA. Punjab Industrial Estates Development and Management Company (PIEDMC) and Faisalabad Industrial Estates Development and Management Company (FIEDMC) worked very closely with PBIT towards achievement of this goal.
These Special economic zones will be completed by 2018 and will help attract Foreign Direct Investment due to attractive Investment friendly policies and tax breaks. These SEZs are expected to add about Rs300 billion to our economy and guarantee over 1,000,000 jobs.
This a great achievement by PBIT and a big step towards a Prosperous Punjab.