UAE firm to invest $15 million in Faisalabad SEZ: Abdul Razak Dawood

ISLAMABAD: Adviser to Prime Minister of Pakistan for Commerce and Investment Abdul Razak Dawood has said that a UAE firm will invest $15 million in a special economic zone (SEZ) in Faisalabad, ARY News reported on Thursday.

In a Twitter message, Abdul Razak Dawood said that Brothers Gas of the United Arab Emirates (UAE) has announced an investment worth $15 million in Faisalabad SEZ.

He detailed that the first of the three-phase investment will include the installation of an Aerosol Propellant Gas (APG) plant. Dawood added that the local manufacturing will help reduce Pakistan’s reliance on imported APG.

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The adviser said that the plant will also enable the manufacturing of refrigerant gasses and ADNOC lubes for the first time.  “The actualization of foreign investments is showing of a conducive business environment which is supported by friendly government policies.”

Dawood appreciated the role of the Board of Investment (BOI) in facilitating the investors.

I am pleased to share that Brothers Gas 🇦🇪UAE has announced investment worth $15M in Faisalabad SEZ. The first of the three phase investment will include installation of an Aerosol Propellant Gas (APG) plant. The local manufacturing will help reduce 🇵🇰Pakistan’s reliance 1/3

— Abdul Razak Dawood (@razak_dawood) December 16, 2021

Earlier on December 1, the PM’s adviser had said Pakistan’s export increased by 33 per cent in the month of November.

Abdul Razak Dawood had said that Pakistan’s exports during the month of November increased by 33% to a historic monthly high of  $2.903 billion as compared to  $2.174 billion during the same period last year, while the target for the month was $2.6 billion.

Dawood had detailed that during the first five months of this current fiscal year, Pakistan’s exports increased by 27 per cent to USD 12.365 billion as compared to USD 9.747 billion during the same period last year.