The Pakistan Textile Exporters Association (PTEA) will set up its new head office in M3 Industrial City of Faisalabad Industrial Estate Development and Management Company (FIEDMC). Spread across an area of 150 acres, the new office will help promote the country’s textile industry in the economic zones of FIEDMC. The land will be provided at a subsidized rate.
According to Pakistani media reports, a virtual meeting was recently held between Mian Kashif Ashfaq, chairman of FIEDMC and PTEA chairman Muhammad Ahmed to make this decision. The FIEDMC chairman said that assistance would be provided to the association for the revival and development of the textile industry.
Separately, in an address to the representatives from Denmark, Norway, and Finland in a virtual roadshow organized by Pakistan’s ministry of commerce, Ashfaq said that there are many opportunities in the FIEDMC economic zones for investors. He also noted that companies investing in the FIEDMC economic zones would be given special incentives such as exemptions in income tax for 10 years and importing duty-free machines.
The FIEDMC has also set up a particular complaint cell for the investors to address stakeholders’ issues.
