President of Islamabad Chamber of Commerce & Industry, Mr.Mahfooz Elahi while addressing Industrial Estate Committee of ICCI said that efforts are afoot for the establishment of a new industrial estate in Islamabad.

The current Industrial Estate has completely saturated and no further space is available to setup a new industry. The cost of land has also gone extremely high and undertaking a new business venture is no more feasible there.

Mr.Mahfooz Elahi said that the Supreme Court of Pakistan has also issued orders for shifting pollution creating industries out of residential areas. The Prime Minister of Pakistan Yousuf Raza Galani and the Federal Cabinet has also approved establishment of a new Industrial Park in Islamabad to attract local and foreign investments.

President said that Islamabad Chamber of Commerce & Industry has held several meetings with the Capital Development Authority and the Planning Division has worked out the planning for its establishment. He informed that the Deputy Commissioner Islamabad has also given the award for the sale of land at market rates and stressed that CDA should expedite the process of purchase of land.

Mr.Mahfooz Elahi emphasizing on the need of new Industrial Park in Islamabad said that it would generate more economic activity and employment for a large number of people. He said that I-17 is near to the motorway and Silk Road, which would greatly facilitate the businessmen for speedy transportation and transaction of business activities.

He said that it is the need of the hour, that industrial parks should be designed on the modern lines to meet the emerging requirement. He said that in the new Industrial Park, Islamabad Chamber of Commerce & Industry has proposed innovative changes, which would greatly facilitate both local and foreign investors.

Mr.Mahfooz Elahi said that Industrial Park must be established on priority basis, so that perspective investors could find opportunities of investment here.