ISLAMABAD: American Bio­medical Engineering Company (ABEC) will establish first-ever manufacturing unit of biomedical equipment at Allama Iqbal Industrial City (AIIC).

The AIIC is a prioritised special economic zone of Faisalabad Industrial Estate Development and Management Company (FIEDMC) under the China-Pakistan Economic Corridor, said a press release issued on Monday.

At the early stages, the ABEC will manufacture only those biomedical products or disposables which are being used for heart surgery or its treatment and later, in next stage, heart stents and other latest medical equipment will also be manufactured here to meet the local needs.

FIEDMC Chairman Mian Kashif Ashfaq said Pakistan will be in a position to save millions in foreign exchange by avoiding import of these biomedical equipment. The investment will ultimately lead to self-reliance in medical sector besides enabling our industry to export it to other countries too.

He said after installation of this unit, the price of biomedical equipment would be slashed remarkably in local market which will help the needy patients too.

He said a research center will also be established at the FIEDMC with collaboration of the ABEC.

Kashif further said investors from across the globe will pump investment in different projects of the FIEDMC in the coming days. The investments will promote industrialisation in Pakistan.

He also emphasised that local manufacturers, industrialists and investors will be provided equal opportunities.

Published in Dawn, February 25th, 2020