ISLAMABAD, Jan 17 (APP):The recently launched Special Economic Zone (SEZ) under China Pakistan Economic Corridor (CPEC) in Faisalabad would create around 70,000 new jobs within a year while it will also absorb as many as 400,000 skilled workers in four years.
According to the estimates of Faisalabad Industrial Development and Management Company (FIEDMC), more than 400,000 trained employees would be required for different departments in the special economic zones.
After successful venture of M-3 Industrial City and Value Addition City under FIEDMC, Allama Iqbal Industrial City, a prioritized Special Economic Zone of CPEC has turned a centre of attraction for investors across the globe, FIEDMC Chairman Mian Kashif Ashfaq told APP here on Friday.
Approximately, more than Rs 357 billion has been invested in the Zones and the government has announced that all investors would enjoy a 10 years tax holiday and duty free import of plants, machinery, raw material and other equipment.
The FIEDMC Chairman informed that for the provision of the skilled man power, an agreement was in final stage with a German institution GIZ, Fouji Foundation and Punjab Vocational Training Council.
FIEDMC will provide them land where these institutions will set up their training centers. In this regard, FIEDMC is also consulting the industry so that training to be imparted to students in accordance to their future need. Besides this, technical institutions which are already functioning would be made part of this training project for imparting training to man power, he added.
Special centers would also be established to train man power on speedy track.
The labor will be trained according to the need of different industrial sectors and advance job contracts would be awarded to them with this assurance that they would be employed without any delay as soon as they accomplish their training.
Meanwhile as many as 20,000 local people who have skill of spoken Chinese language would also be absorbed in the industries during the first year.
Mian Kashif said that mega projects and Special Economic Zones set up in FIEDMC would be harbinger of industrial revolution in Pakistan.
He said in first category, the exports oriented industry would be preferred in the Special Economic Zones followed by import substitution industry while local industry was being placed in third category of preference.