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CE approves export processing zone at F'abad

MUHAMMAD RIAZ

LAHORE: Chief Executive Gen Pervez Musharraf has okayed establishment of an export processing zone (EPZ) at Faisalabad. He has directed the Punjab government to provide a suitable piece of land within a month so that developmental work could be started, sources said here on Monday.

The Export Processing Zone Authority (EPZA) had signed a Memorandum of Understanding with the Faisalabad Chamber of Commerce and Industry (FCCI) about one and half year ago.

The proposed EPZ, a joint venture of the EPZA and the FCCI, would be set up in the surroundings of Faisalabad, which would comprise 200 acres of land, sources added.

The FCCI had already created a Trust to expedite the EPZ affairs. However, it could not show any progress due to non-provision of suitable land for the project.

To resolve the delayed issue of EPZ, the FCCI invited the Chief Executive to visit the chamber, sources revealed.

The Chief Executive, during his recent visit to Faisalabad, held a meeting with the FCCI executive body members, which besides a large number of traders, industrialists, was also attended by Punjab Governor Lt. Gen. Muhammad Safdar (Retd), Finance Minister Shaukat Aziz, Provincial Finance Minister Shahid Hafiz Kardar, Punjab Chief Secretary, Hafiz Akhtar Randhawa, EPZA General Manager (Projects) Muhammad Ashraf Wahla.

During the meeting, besides, indicating other problems of the business community of the area, FCCI President Sh. Muhammad Khalid Habib stressed upon the Chief Executive to accord immediate approval for long pending issue of establishment of EPZ Faisalabad for which major hurdle was provision of a suitable piece of land by the Punjab government.

Considering the importance of the EPZ establishment at Faisalabad, which is called the Manchester of Pakistan, the Chief Executive Gen Pervez Musharraf accorded approval for establishing EPZ.

The Chief Executive also assured the participants, that the Punjab Government would provide land within a period of one month so that the business community of this potential area could take benefit from the incentives packages offered by the EPZA.

The Punjab government would only provide land for setting up of the EPZ, while finances for the development works will be generated by the business community and the FCCI, without involving the national exchequer.

Sources maintained that the proposed EPZ would be helpful in boosting export-oriented industrialization in the country. It would generate earning of precious foreign exchange, transfer of modern technology, consumption of raw materials available within the country and employment opportunities to the jobless people.