FIEDMC Determined To Promote Investment Culture Despite Covid-19: Chairman Mian Kashif

FIEDMC Determined To Promote Investment Culture Despite Covid-19: Chairman Mian Kashif

LAHORE: Mian Kashif Ashfaq, Chairman Faisalabad Industrial Estate Development and Management Company (FIEDMC) Monday said as the world  is grappling with the economic fallout of the coronavirus pandemic,  Pakistan is turning the challenge into a prospect for greater economic gain through promoting stronger trade links with regional countries under the guideline of Prime Minister Imran Khan’s vision.

Presiding over a meeting of senior executives of FIEDMC via video link from camp office here, he said Pakistan is looking to the COVID-19 outbreak to offset some of its longstanding economic problems and remodel domestic resource distribution as it attracts significant foreign investment to boost an ailing economy.

In this regard, Mian Kashif Ashfaq pointed out that the incumbent government under the dynamic leadership of Prime Minister Imran Khan is committed to bring out comprehensive solutions for sustaining the economic growth in the wake of global outbreak of COVID-19, coronavirus pandemic in the country.

Besides this, he was of the opinion that these trade and investment officers working in more than 50 countries will be bound to link the expected investors with one window operation of FIEDMC and update the administration of these economic zones about the trade possibilities of their designated countries for promoting and marketing of Pakistani products which would help the country enhancing volume of exports.

Mian Kashif said Allama Iqbal Industrial City provided huge opportunity for the foreign and local investors under one window operation.

“Economic sovereignty is the key to comprehensive development,” he said regretting that this was generally ignored and weak stance adopted by previous political governments exposed the country to steady increase in the energy cost affecting entire economy.

He said he was a big supporter of foreign investment but would expect that this should now come forward with shift and transfer of technology. He was of the opinion that an efficient balance has to be maintained to ensure that country attracting investment may benefit on immediate basis as well as on long term basis.

Mian Kashif further said public private partnership in industries will be helpful in growing the local industry and attracting foreign investor for joint ventures.

He also highlighted Pakistan’s reforms agenda such as steps to improve Pakistan’s ranking on the ease of doing business and structural changes in microeconomic sectors particularly industrialization in the country.

He reiterated his earlier stance that they would use all available resources to provide the best facilities to their customers so that industrial revolution would be brought not only in Faisalabad but also across the country.