Faisalabad, previously known as Lyallpur (Punjabi, Urdu: لائل پور), named after the founder of the city, but was renamed in 1977 in honour of late King Faisal of Saudi Arabia. It is the 3rd most populous city of Pakistan after Karachi and Lahore respectively, and the 2nd largest city of Punjab after Lahore. Faisalabad is one of Pakistan's wealthiest cities, the largest industrial hub and second largest city of wider Punjab region.
Faisalabad has grown to become a major industrial and distribution centre because of its central location in the region and connecting roads, rails, and air transportation. It has been referred to as the Manchester of Pakistan". As of 2013, GDP (PPP) of Faisalabad was estimated as $43 billion and projected to rise to $87 billion in 2025 at a growth rate of 5.7%. Faisalabad contributes over 10 percent to the Punjab's GDP and has an average annual GDP (nominal) of $20.5 billion. Agriculture and industry remain its hallmark.
