Industrial zone in offing at Islamabad

By Masood Sattar Khan
(Pakistan News & Features Services)

An Islamabad-based trade body has discussed various proposals for the establishment of new industrial estate/zone in the federal capital to promote industrialization under China-Pakistan Economic Corridor (CPEC). 

In this regard a delegation of the Islamabad Chamber of Commerce and Industry (ICCI), led by its President, Muhammad Ahmed Waheed, called on Mathar Niaz Rana, Federal Secretary, Ministry of Planning & Development, and discussed various proposals for promoting industrialization in the region covering key areas of infrastructure, logistics network and trade routes. 

Tahir Abbasi, Senior Vice President, ICCI, and Malik Sohail Hussain, Chief Coordinator, UBG FPCCI, were also part of the delegation. 

The Federal Secretary for Ministry of Planning & Development briefed them about various initiatives of the ministry and shared details of the CPEC projects which offered great opportunity for joint ventures and investment to the private sector. 

He was of the opinion that the ICCI could play an important role to attract more investors from the private sector in order to exploit the potential opportunities of business partnerships in CPEC projects. 

Further he informed that an industrial zone had been planned in Islamabad under the CPEC project and desired that the ICCI should share its working paper for the proposed industrial zone that would be given due consideration. 

The Federal Secretary stated that sector-specific industrial clusters were required in Islamabad to facilitate the potential foreign and local investors in exploring joint ventures and investment opportunities in such clusters. 

Speaking at the occasion, the ICCI President talked about their efforts for the establishment of a new industrial estate in Islamabad to promote industrialization as there was no more space in existing industrial areas to set up new industries due to which the potential investors were facing problems. 

He stressed that the Planning Ministry should cooperate for materialization of the important project which would give boost to industrial activities and create plenty of new jobs in the region. 

He suggested that the ICCI should be taken on board for the establishment of industrial zone in Islamabad under CPEC project and assured that the ICCI would send its proposal for the said project to make it an industrial zone that could exploit the comparative advantage and human talent of the area and emerge as a hub of industrial activities in the region.