FAISALABAD, Feb 26 (APP): Federal Minister for Planning, Development, Reforms and Special Initiatives Asad Umar on Friday said a new textile policy was being formulated and industrialists of the city would benefit from it.
During a briefing to businessmen and industrialists at the Faisalabad Chamber of Commerce & Industry (FCC), he said issues relating to the Special Economic Zone (SEZ) under the China Pakistan Economic Corridor (CPEC) were discussed and mentioned that several projects were already under construction.
The Minister said, in the second phase of the CPEC, “we will upgrade our manufacturing sector on solid footing with Chinese cooperation and necessary steps in this regard will be taken soon.”
Responding to a question, he said the entire textile industry was being upgraded due to the effective policies of the government.
“Now our aim is to maintain continuity of this development and a new textile policy is under consideration which will be announced soon,” he added.
The meeting was attended by Chairman CPEC Authority Lt Gen (Retd) Asim Saleem Bajwa and representatives of related federal and provincial deparments.
Later in a tweet, he said he reviewed the progress of the Allama Iqbal Industrial Zone, the first CPEC SEZ inaugurated by Prime Minister Imran Khan. He said several decisions were taken to make it more attractive for investors, local and Chinese.
Visited faisalabad to review progress of Allama Iqbal industrial zone which is first CPEC SEZ, inaugurated by PM IK last year. Took several decisions to accelerate work & make it more attractive for investors, local & Chinese. Several projects already under construction
— Asad Umar (@Asad_Umar) February 26, 2021