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New industrial city in Pakistan to create 300,000 jobs

Filed on January 4, 2020 | Last updated on January 4, 2020 at 07.25 am
New industrial city, Pakistan, create, 300,000 jobs, Imran Khan, China-Pakistan Economic Corridor,

(Alamy Image)

The project will attract a huge investment in automobiles, value-added textiles, engineering and pharmaceuticals.

Prime Minister Imran Khan on Friday, January 3, performed the groundbreaking of the Allama Iqbal Industrial City in Faisalabad which is being established under China-Pakistan Economic Corridor and expected to create around 300,000 jobs and attract Rs400 billion investment.

During a day-long visit here, the prime minister performed the groundbreaking of the mega project by unveiling a plaque and also planted a sapling at the project site as part of his 10-Billion Tree Tsunami.

The prime minister was briefed about the significance of the project which is expected to create 300,000 jobs during the next five years.

The project will attract approximately Rs400 billion investment in automobiles, value-added textiles, engineering, pharmaceuticals, food processing, chemicals, construction materials, FGCG and packaging sectors. It will contribute to the country's GDP, increase the exports of the country and would also encourage the import substitution.

In total, nine special economic zones had been planned under the China-Pakistan Economic Corridor (CPEC) Industrial Cooperation Framework.

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