CMIFC To Attract Investment, Push GDP Growth U;p: FCCI

FAISALABAD, (UrduPoint / Pakistan Point News - 15th Oct, 2021 ) :The Chief Minister's Investment Facilitation Cell (CMIFC) will not only attract local and foreign investment but also push GDP growth to above 5%.

This was stated by Faisalabad Chamber of Commerce & Industry (FCCI) President Atif Munir Sheikh.

He was talking to executive committee members of the FCCI after attending the inaugural ceremony of CMIFC. He said that the Ministry of Industries and Investment Punjab, under the supervision of Provincial Minister Mian Aslam Iqbal, has taken fundamental steps to attract maximum investment. In this connection, an inspector-less regime is being introduced while under One Window Scheme, NOCs regarding 22 different government departments were being issued within a week to one month period. He said that NOCs would be issued within one month for high-risk industries while it could be handed over to the applicants positively within one to two weeks for low and medium risk industries.

He said that a new system of third parties will be introduced for the inspection.

"The Government fee relating to the boiler inspection could be deposited in government treasury while the fee of third party could be paid through cross cheque," he said and added that under the One Window Scheme the first NOC had been issued to a Chinese company "Challenge Fashion".

"This firm is making an investment of $150 million," he added. He further said that 22 Chinese companies have so far invested in Punjab while another 40 companies wou;d invest during the next year. He said that Mian Aslam Iqbal was optimistic that there were bright chances of maximum investment in state-of-the-art industrial estates developed by FIEDMC in Faisalabad.

Atif Munir Sheikh also appreciated the pro-industrial policy of Chief Minister Sardar Usman Bazdar and said that his team is making serious efforts to attract maximum investment. He thanked the CM and Mian Aslam Iqbal for extending the best possible facilities for the expeditious growth of Faisalabad.