Faisalabad to open private industrial city

Pakistan's first privately run industrial city will be located in Faisalabad, said a delegation of businessmen visiting Dubai to drum up investment in the development.

"We are also here to study the infrastructure and management systems created by the UAE to run its free zones. We want to learn from them so we can build our own industrial cities," said Mian Mohammad Latif, chairman of the Faisalabad Industrial Estate Development and Management Co, at a reception held by United Bank Ltd on Sunday.

It is a private company formed by industrialists to establish and run Faisalabad Industrial City.

Other private companies, using a similar template, have been formed to establish industrial cities in Lahore and Karachi.

Faisalabad Industrial will establish two parks, Latif said. Value Addition City will come up in about 2,000 hectares while FIC will cover 35,000 hectares.

Both projects will start in April this year.