Construction work on Faisalabad Expo Center to be started within this year: Razak Dawood

ISLAMABAD: Adviser to Prime Minister on Commerce Abdul Razak Dawood Monday said the construction work of  a state-of-the-art Expo Center in Faisalabad will be started within this year to facilitate the industrialists and foreign investors setting up projects in Faisalabad.

Abdul Razak Dawood expressed these views while chairing a meeting held at Ministry of Commerce and Industry.

Provincial Minister for Industries, Commerce and Trade Mian Aslam Iqbal and Faisalabad Industrial Estate Development and Management Company (FIEDMC) Chairman Mian Kashif Ashfaq were also present on this occasion," says a press release issued here.

Abdul Razak Dawood assured the FIEDMC Chairman that a Memorandum of Understanding (MoU) will be inked within one or two weeks between FIEDMC and Lahore Expo Company to run managerial affairs of Faisalabad Expo Center.

He also directed Trade Development Authority of Pakistan (TDAP) officials to make sure that FIEDMC will participate in all international trades and exhibitions.

He also directed that local exports will be facilitated to participate in “Import Exhibition” being started in China in September this year so that exports of the country would be boosted.

The adviser said the government would shift the country's economy from a consumption driven to an investment driven one.

FIEDMC Chairman Mian Kashif Ashfaq briefed Adviser to Prime Minister on Commerce Abdul Razak Dawood about investment, development and progress being taken in Special Economic Zones.

The Adviser was also briefed about provision of electricity, the protection of investors and steps taken to attract more investment in Allama Iqbal Industrial City which was built under CPEC project.

FIEDMC Chairman Mian Kashif Ashfaq on this occasion said Faisalabad is one of the fastest growing cities of Pakistan which has potential to stabilize national economy by multiplying its exports.

He said after completion of Expo Center in Faisalabad, it will hold maximum exhibitions with clear objective to enhance exports and bridge the widening gap between imports and exports.

“Only 25% of local industrialists and traders visit fairs at expo centers in Lahore and Karachi but after the establishment of new expo centre in Faisalabad with greater facilities, more people will come to multiply their trade with foreigners and local investors,” he added.

Appreciating the economic policies of Prime Minister Imran Khan and his economic team including Abdul Razak Dawood, he said the government had made lot of efforts to overcome the balance of payment issue after fixing its direction for the development of various economic sectors.

He further said Abdul Razak Dawood’s role to resolve the issues of the business community is admirable as he has patience and a sympathetic ear which has infused confidence in the business community.

He said that technological advancement in every sector of economy was vital to achieve higher growth rate and make the local producers more competitive in the international market which would help enhance the exports.

Mian Kashif Ashfaq said that Prime Minister Imran Khan was an honest political leader and his honesty and credibility has also encouraged the local and foreign investors to invest in Pakistan.