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Business & Finance

Chairman CPEC urges investors to finance Faisalabad’s Medical City

  • Bajwa added that Special Economic Zones (SEZs) are our future for enhancing exports, import-substitution, and job creation.
28 Sep 2020

Chairman China Pakistan Economic Corridor (CPEC) Authority Lt Gen (retd) Asim Saleem Bajwa has urged investors to finance the newly established medical equipment manufacturing zone set up in Faisalabad.

“CPEC Authority urges new investors to our Industrial development, welcomes the initiative to develop exclusive Health/medical City in CPEC’s Faisalabad SEZ for the related manufacturing industry,” said Bajwa in a tweet post.

Bajwa added that Special Economic Zones (SEZs) are our future for enhancing exports, import substitution, and job creation.

Earlier, Federal Minister for Science and Technology Fawad Chaudhry said a medical equipment manufacturing zone has been set up in Faisalabad.

Chaudhry said local manufacturing of all equipment would greatly reduce medical device imports worth Rs1.4 billion. He added that 200 acres of medical equipment manufacturing zone has been set up in Faisalabad’s Industrial area.

He said, "We will now produce Injections, Canolas, Xray Machines, Heart stents, Dialysis machines in Pakistan." Chaudhry said that 30 million syringes will be manufactured locally to administer vaccine of COVID-19. Prime Minister Imran Khan also announced that for the first time in the history of Pakistan, all duties levied on medical equipment imported into the country have been removed.

These include medical equipment/machinery and apparatus like coronavirus detection kits, surgical masks, multimode ventilator with an air compressor, face shields, and other medical equipment.