Industrialists Demand New Industrial Zone In Capital To Boost Exports

Industrialists demand new Industrial Zone in capital to boost exports

ISLAMABAD, Oct 6 (UrduPoint / Pakistan Point News - 6th Oct, 2022 ) :Islamabad Chamber of Commerce and Industry (ICCI) on Thursday urged the government to establish a new industrial zone in capital as industrialization was the best option to absorb youth in jobs.

A delegation of Islamabad Industrial Association (IIA) led by its President Zikria A. Zia visited ICCI and urged for stepping up efforts with the relevant government authorities for a new industrial zone in the Capital to boost industrialization and exports.

The delegation also congratulated the new Office Bearers of ICCI and hoped that they would play an effective role in resolving the key issues of local industry, said a press release.

Addressing the delegation, Ahsan Zafar Bakhtawari, President, ICCI said that Islamabad was experiencing rapid urbanization and population growth, but unemployed young talent was being wasted due to lack of jobs.

The industrialization was the best option to absorb youth in jobs, he said adding that many investors were keen to set up industries in the Islamabad region but due to absence of a new industrial zone, they were unable to make new investments.

He urged the government to cooperate with ICCI in early materialization of this important project that would yield multiple benefits for the economy. He assured the delegation that ICCI would make all possible efforts to address their highlighted issues.

Faad Waheed Senior Vice President, Muhammad Azhar ul islam Zafar Vice President ICCI and Khalid Iqbal Malik Group Leader said that the economy of Pakistan was facing multiple challenges and urged the government to focus on promoting investment and industrialization that would help revive the economy and overcome economic problems of the country.

The delegation members said that the CDA board in a meeting had agreed to charge Rs.100,000 per kanal for lease extension of industrial plots instead of 1% of current market price of the industrial plot, but the decision has not been implemented as yet. They said that ICCI should take up this issue with CDA for early implementation of its decision.