TOBA TEK SINGH: A businessman of Faisalabad has suggested establishing a Faisalabad Development Legend Fund (FDLF) to undertake infrastructure-related mega commercial projects for the sustained, comprehensively organised and inclusive development of Faisalabad. The FDLF would also play a key role in improving the overall image of Faisalabad at the global level as a leading, progressive, dynamic and vibrant metropolis of central Punjab.

Addressing a meeting of businessmen at Faisalabad on Thursday, Mohammad Idrees, former FPCCI president, said that such projects must be undertaken that change the entire landscape of the city. He mentioned the Sialkot model and said that on the same pattern we would also undertake ventures, including a dedicated civilian airport, an international level hospital, hotel, theme park and many more to cater to its future needs.

He said that these schemes could be initiated in public-private partnership (PPP) mode and the profit earned from these commercial ventures could be used to undertake new schemes to ensure basic amenities of life to its inhabitants. He said that a majority of businessmen hailing from this city have given a positive response and now we would initiative to propose the organisational setup and fundamental objectives of this commercial entity in consultation with the interested individuals. He said that although the name for this company has initially been proposed as FDLF, it could be changed or amended in accordance with the wishes of its founding members.

He also mentioned the Faisalabad Dry Port Trust which was also the brainchild of the FCCI members. “It was the first upcountry port in the private sector which also helped importers and exporters by providing them related facilities at their doorsteps”, he added.

About the proposed FDLF, he said that it would have approximately 100 executives with a management board of 25 members. “They would elect three office bearers to manage the day-to-day affairs of the FDLF”, he said and added that each founding member would contribute Rs10 million. He requested the participants to give their input so that we could finalise the details of the proposed company.

Participants also appreciated the idea and gave their suggestions and proposals to transform Faisalabad into a modern city.

Published in Dawn, April 1st, 2022