Businessmen demand new industrial zone



ISLAMABAD:

A delegation of Islamabad Industrial Association (IIA) visited the Islamabad Chamber of Commerce and Industry (ICCI) and sought its support for setting up a new industrial zone in the capital.

The delegation, led by IIA President Zikria A Zia, urged the ICCI to play an effective role in pursuing the matter with the relevant government authorities as it was necessary to give a boost to the industrialisation process and exports.

Talking to the delegation, ICCI President Ahsan Zafar Bakhtawari said that Islamabad was experiencing rapid urbanisation and population growth, but the talent of youth was being wasted due to unemployment. In that scenario, “industrialisation is the best option to engage the youth in economic activities”.

“Many investors are keen to set up industrial units in the Islamabad region but due to the absence of a new industrial zone, they are unable to make new investment,” he pointed out and urged the government to cooperate with the ICCI in early execution of the important project that would yield multiple benefits.

On the occasion, the IIA delegation revealed that the Capital Development Authority (CDA) board in a meeting had agreed to charge Rs100,000 per kanal for the extension in lease of industrial plots, instead of 1% of the current market price, but the decision had not been implemented yet.

They asked the ICCI to take up the matter with the CDA for early implementation of the decision. They also expressed concern over a possible gas shortage in winter as the government could not attract any bidder for a long-term contract for liquefied natural gas (LNG) import and asked the ICCI to work with the government to save the industry from gas load-shedding.

Published in The Express Tribune, October 7th, 2022.

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Originally published at tribune.com.pk

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