CPEC-related Small Industrial Zone inaugurated in Sargodha

Sargodha: Pakistani State Minister for Industries and Production Tasneem Ahmed Qureshi laid the foundation-stone of a China-Pakistan Economic Corridor (CPEC)-related Small Industrial Zone at Asianwala, Kandiwal Road, here.

Tasneem Ahmed Qureshi, while addressing the inauguration ceremony, said that it was need of the hour to convert Sargodha division into mini economic and industrial zone after providing all sorts of facilities there.

He stressed that after completion of the project, a large number of people would get employment.

Seniors officials from Pakistan Industries & Development Corporation, members of Sargodha Chamber of Commerce and Industry and a large number of people attended the ceremony.

While giving a briefing on the project, Operations Manager Fahad Naseer from Pakistan Industries & Development Corporation said that the project would be built on 800 kanals of land and all kinds of small industries including furniture, factories and other units would be set up there.

He maintained that it would be the first mega project of small industries in Sargodha which would encourage small investors and generate ample revenue from the industrial hub.

He underlined that investors, who would invest their money in different businesses, would be given zero tax facility for 10 years.

He said that uninterrupted supply of electricity would also been ensured to the industrial units. He thanked Tasneem Qureshi for playing a key role in making Sargodha an industrial zone.

Special Economic Zones (SEZs) set up under the CPEC are set to become the engines of growth for the economic stability of Pakistan.

Dr Fazal-ur-Rahman, Director of Pakistan Institute of China Studies at the Sargodha University, said the CPEC and the associated projects will prove a historic initiative which will attract foreign investors and ultimately increase employment and business opportunities for the locals and international investors in Pakistan.

The SEZs and industrial parks are being designed with the promise of international opportunities and unlimited resources, taking the country to a journey of economic growth, he added.