Faisalabad Industrial Estate Development and Management Company (FIEDMC) has signed a landmark Memorandum of Undertaking (MoU) with All Pakistan Textile Processing Mills Association (APTPMA) to shift the textile processing units to a well planned and state-of-the-art M-3 Industrial Estate.

Mian Muhammad Idrees, Chairman FIEDMC, while addressing a dinner hosted in his honour by Engineer Ehtsham Javed, former member of executive Committee of the Faisalabad Chamber of Commerce and Industry (FCCI) said that the scattered textile units in the urban areas of Faisalabad will shift to M2 Industrial Estate.

The Punjab government has accorded status of special economic zone to the M-3 Industrial Estate while formal sanction from the central government is also in the pipeline.

After declaring it special economic zone, the industrial units would be able to import duty free machinery for installation in this mega industrial estate.