Federal Minister for Board of Investment, Mr. Qaiser Ahmed Sheikh, visited the Faisalabad Industrial Estate Development and Management Company (FIEDMC) to review the progress of Special Economic Zones (SEZs) and to assess issues related to their development and population.
During the visit, the Federal Minister stated that FIEDMC is a key hub of Pakistan’s industrial development, and the government, under the leadership of Prime Minister Muhammad Shehbaz Sharif, is fully committed to resolving the issues faced by the industrial community with seriousness and determination.
He emphasized that existing bottlenecks at FIEDMC would be addressed to make it more functional, stable, and attractive for both local and foreign investment. Highlighting his association with district Chiniot, internationally recognized for its furniture industry, the Federal Minister said he fully understands the importance of industry and the practical challenges faced by industrialists.
Mr. Sheikh noted that investment promotion remains a top priority of the government, as industrial growth is fundamental to strengthening the national economy. Coming from an industrial family, he said that the concerns of the business community are viewed not merely as paperwork, but as real, on-ground issues.
The Federal Minister acknowledged that challenges exist on both sides; however, he stressed that Pakistan belongs to all of us and, despite existing challenges, collective efforts are required to move the country forward. He highlighted improvements in the economy, including an increase in foreign exchange reserves, and informed that the Finance Minister has been directed to maintain continuous engagement with stakeholders to ensure practical resolution of industrial issues.
Earlier, Chairman FIEDMC, Mr. Rana Azhar Waqar, briefed the Federal Minister on the progress of SEZs, stating that by 2025, 90 factories had been established at FIEDMC. He further informed that 26 additional factories have been set up, while development work on 31 factories is currently underway. Additional Secretary Board of Investment Ms. Arfa, CEO FIEDMC Ms. Qurratul Ain, and other senior officials were also present.
Subsequently, the Federal Minister met with the President of the Faisalabad Chamber of Commerce and Industry (FCCI), Mr. Farooq Yousaf Sheikh, Vice President Mr. Asim Munir, and other members, who apprised him of the challenges faced by the industrial sector. The FCCI President highlighted that due to security concerns and policy-related issues, more than 150 industries have shut down, resulting in unemployment for nearly 150,000 workers, while several industrialists have relocated their units abroad.
Agreeing with the concerns raised by the business community, the Federal Minister assured that their issues are genuine and will not be ignored. He reaffirmed that concrete measures will be taken to further strengthen FIEDMC and other industrial zones across the country.
Later, the Federal Minister visited the factory of renowned industrialist Mr. Mian Mansha, where discussions were held on direct container transportation from Karachi Port to FIEDMC, reduction in logistics costs, rail-based transportation, and railway connectivity linking Faisalabad and Chiniot with major trade routes. Mr. Mian Mansha offered to prepare feasibility studies and extended cooperation in terms of funding and financing to expedite these projects, emphasizing the need for full development of Pakistan’s largest industrial zone for sustainable economic growth.
The Federal Minister reiterated that the Board of Investment remains fully committed to facilitating industrialists, strengthening FIEDMC and all other Special Economic Zones, and ensuring a business-friendly investment climate across Pakistan. He emphasized that BOI will continue to work closely with all stakeholders to promote sustainable industrial growth and attract both domestic and foreign investment.
