US biomedical engineering company to set up a manufacturing unit in the Allama Iqbal Industrial City
In a first, a US biomedical engineering company is set to start a manufacturing unit of biomedical equipment in the Allama Iqbal Industrial City.
The Allama Iqbal Industrial City is an important SEZ (Special Economic Zone) of Faisalabad Industrial Estate Development and Management Company (FIEDMC) under the China-Pak Economic Corridor (CPEC).
In the beginning phase, the American company will only manufacture those biomedical products or disposables that are being used in heart surgery or its treatment. In the next stage, heart stents and other latest medical equipment will also be manufactured here to meet the local needs.
“Pakistan will be in a position to save millions of rupees worth foreign exchange in the wake of import of biomedical equipment and this will also ultimately lead to self-reliance in medical sector besides enabling our industry to export it to other countries too.” FIEDMC Chairman Mian Kashif Ashaq said.
After the unit is installed, the price of biomedical equipment will be slashed remarkably in the local market, this will help the deserving patients.
A research centre will be established in FIEDMC with this company’s assistance. The research centre will open new doors for medical research in the country.
“FIEDMC will also provide all available facilities to the said company for installing its unit and the objective behind offering free-of-cost land is to lay the foundation of biomedical engineering in Pakistan so that it will help develop the country’s medical sector to meet the challenges both at local and international levels”, Kashif added.
He said that investors from across the world will invest in different FIEDMC projects in the coming days. Later, Dr Usman paid a visit to Allama Iqbal Industrial City. He showed his satisfaction over the speed of its development and congratulated Mian Kashif for materializing the dream of this mega project.