Govt approves Rs1.4bn for utility services in SEZs

FAISALABAD: The Board of Investment (BoI) Secretary Omer Rasul said that the federal government has approved Rs 1.40 billion for provision of utility services in special economic zones (SEZs) established under the aegis of Faisalabad Industrial Estate Development and Management Company (FIEDMC).

Chairing a meeting at FIEDMC Office here, he said that the government has formulated investment policy to create investor-friendly environment in addition to attract maximum foreign direct investment. Therefore, the government has concentrated on special economic zones which will also help to attract foreign direct investment.

FIEDMC Chairman Mian Kashif Ashfaq said that more than 20 Chinese companies have made agreements for investment in M-3 Industrial Estate and Allama Iqbal Industrial City whereas provision of utility services will attract more investors in these zones.

He said that Faisalabad Electric Supply Company (FESCO) is demanding Rs 150 million for provision of 40-megawatt electricity in economic zones by December 2019. FESCO CEO Mujahid Islam Billah and others were also present.

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