Punjab to help set up industrial estate near capital
The Punjab government on Friday suggested that it may help set up a new industrial estate along the planned Rawalpindi Ring Road project which will not only benefit industries in Rawalpindi and northern Punjab but also the federal capital.
This was suggested by Sardar Tanveer Khan, the Special Assistant to the Punjab Chief Minister on Business, Investment and Trade Affairs, on Friday while addressing a delegation of industrialists, business people and traders from Rawalpindi and Islamabad. During the meeting, Tanveer said that the Punjab government will extend all possible cooperation and facilitation to the Islamabad Chamber of Commerce and Industry (ICCI) and the Rawalpindi Chamber of Commerce and Industry (RCCI) to set up a new industrial estate in an economic zone along the planned Rawalpindi Ring Road Project.
Tanveer said that the provincial government will encourage and facilitate financiers invest along the Rawalpindi Ring Road (R3) project while the Punjab Board of Investment - which he chairs - will extend all possible assistance towards the establishment of an industrial estate. The main objective of the R3 project, he said, was to bring progress and prosperity to the region as special economic zones (SEZs), cottage industry, business hubs, wholesale markets, theme parks and other projects will be set up as part of the project. Moreover, it will also help resolve the traffic congestion of the twin cities. ICCI President Sardar Yasir Khan highlighted the importance of a new industrial estate in the Islamabad region in promoting industrialization. He pointed out that the current industrial zones in the federal capital have reached their capacity which has made it difficult to set up new industrial units. As a result, potential investors are losing interest in the region.
The ICCI chief said that they want to develop a new industrial estate for Islamabad region on the FIEDMC model to give a boost to industrial activities in the region. He appreciated the Punjab government for initiating a consultation process with all stakeholders, adding that the R3 project will undoubtedly help enhance business and industrial activities in the region. Rawalpindi Development Authority (RDA) Chairman Tariq Murtaza said that plans for developing industrial zones and commercial areas along the R3 project will be completed in consultation with both, the ICCI and RCCI. Earlier, RDA Director General Ammara Khan gave a detailed presentation about the proposed locations of industrial zones along the R3 project