The Islamabad Chamber of Commerce and Industry (ICCI) has called upon the government to earmark an area in the Islamabad Capital Territory for setting up a new industrial estate in order to meet the increasing demand of local investors that would give boost to industrialization in the region.
Muhammad Ahmed Waheed President, Tahir Abbasi Senior Vice President and Saif ur Rahman Khan Vice President, Islamabad Chamber of Commerce & Industry said that the existing industrial areas in Islamabad were now short of space for new industrial units, which necessitated a new industrial zone in the region. They appealed to the government to establish industrial estate in the federal capital in consultation with ICCI to promote investment and industrial activities.
They said that with great efforts of ICCI, CDA many years ago had earmarked Sector I-17 for industrial estate and land acquisition process was started, but CDA has now changed the Master Plan of Islamabad to re-designate I-17 from industrial to institutional use for setting up a medical city. However, no alternative area has been allocated for industrial estate due to which the local industrialists were facing problems in expanding their businesses.
Muhammad Ahmed Waheed said that due to non-availability of a new industrial estate in Islamabad, many investors of the region were shifting from Islamabad, therefore, establishment of a new industrial zone was the need of the hour to cater to the needs of potential investors and current industrialists. ICCI President said that Potohar Region had neither well developed agriculture nor any other major natural resources while the population of twin cities was growing fast. Therefore, encouraging industrialization in the area was the best option to create jobs and promote economic activities. He said that the region offered easy access to Afghanistan and Central Asian States so new industrial estate in Islamabad would promote Pakistan’s exports to these rising markets. He was of the view that industrial estate would also bring prosperity, reduce poverty and create plenty of job opportunities for the people of the region and urged that government should give due consideration to this important issue.