Governor Punjab Ch Muhammad Sarwar on Tuesday said that the Faisalabad Industrial Estate Development and Management Company (FIEDMC) Road Show in London would further attract international investments and strengthen links with multinational companies and institutional investors.
According to a message received here, Governor Punjab Ch Muhammad Sarwar expressed these views in a reception held in his honour at Manchester by FIEDMC Chairman Mian Kashif Ashfaq. FIEDMC is playing vital role for attracting foreign investment for its first prioritized special economic zone - Allama Iqbal Industrial City under the China-Pakistan Economic Corridor (CPEC), he said.
The entire world is now having trust in Pakistan as they all know that Pakistan is now being ruled by honest leadership under Imran khan, he said.
The Governor said that Pakistan and Britain have close ties and the UK government has always supported Pakistan in the provision of basic facilities in health and education sectors. He said Pakistan community is playing an important role in the UK development, he added.
Ch Sarwar said that cheap labour of 100 million youth was available in the country besides huge natural resources. Over 3.5 million Pakistanis were living in Europe and were sending $12 billion annually in shape of foreign remittances to the country, he said. Over 8.5 million overseas Pakistanis were living all over the world and they were sending over $20 billion remittances to the country annually. He hoped that foreign remittances would increase further as confidence of the overseas Pakistanis was increasing due to prudent economic policies of the PTI government.
Chairman FIEDMC Mian Kashif Ashfaq unfolded the distinctive features of FIEDMC road show being held tomorrow at High Commission in London. He further said that "the CPEC and Brexit are two important developments, and as the global economic gravity shifts towards Asia, Pakistan is opening new vistas of business opportunities to the advantage of the people in both countries.
Mian Kashif said the UK is the third largest investor in Pakistan after China and the Netherlands and accounts for 8-percent of foreign direct investment to Pakistan, also the UK has overtaken China and now is Pakistan's 2nd largest export market after the US and also the largest market in the Europe". "The annual bilateral trade between the UK and Pakistan has gone up to US $2.9 billion just in the last year it has seen a 10 percent increase in it and annually now Pakistan is exporting $1.8 billion of goods and services to the UK," he added.
Accordingly, the FIEDMC Chief shared that European countries are keen to invest in various economic sectors of Pakistan especially in newly launched state of the art Allama Iqbal Industrial Estate with 10 years tax holiday coupled with an excellent and unprecedented package of incentives.
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