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 subsidised rate.
A virtual meeting was recently held between Mian Kashif Ashfaq, chairman of FIEDMC and PTEA chairman Muhammad Ahmed to make this decision, according to Pakistani media reports. The FIEDMC chairman said that assistance will 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 organised by the Pakistan’s ministry of commerce, Ashfaq said that there are many opportunities in the FIEDMC economic zones for investors. He also said that companies investing in the FIEDMC economic zones will be given special incentives such as exemptions in income tax for 10 years and import of duty-free machines.
The FIEDMC has also set up a special complaint cell for the investors to address the issues that stakeholders face.