Plans afoot to transform Pindi into business district
PSX MD Farrukh Khan said the high commissioner’s visit to the bourse would serve as a confidence-building measure for UK-based companies in Pakistan and would send a positive message to the listed companies to enhance business and trade with companies in the UK. photo: file
Plans to transform Rawalpindi into a business district have commenced as the commissioner has instructed the Rawalpindi Development Authority (RDA) to identify a suitable location within fifteen days.
During a visit to RDA-owned land, Rawalpindi Commissioner Liaquat Chatha directed the establishment of a Business Facilitation Centre, aiming to enhance the business environment in collaboration with Rawalpindi's development partners.
Rawalpindi Chamber of Commerce (RCCI) President Saqib Rafique, Additional RDA Director General Owais Manzoor Tarar, RDA Chief Engineer Muhammad Anwar Baran, and other officials were present during the visit.
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Chatha emphasised practical steps taken to designate Rawalpindi as a business district. He said the objective is to showcase the nation's economic prowess on the global stage. A business facilitation centre will soon be established to streamline business processes by consolidating services from various departments under one roof. This centre will process investor applications for necessary permits, and departmental representatives will be available for prompt assistance to enhance the city's business.
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To expedite commercial and industrial construction approvals, the commissioner mandated a 30-day timeframe, with completion certificates and land-use changes to be approved within 30 and 45 days, respectively.
Rawalpindi commissioner noted that within a year of its establishment, the authority has attracted a total investment of Rs56.47 billion through two significant auctions. Liaquat Chatha highlighted Punjab's CBD commitment to environmentally sustainable urban economic development through vertical infrastructure principles. Under the jurisdiction of Punjab CBD, the authority is planning to extend economic activities to other cities like Faisalabad, Rawalpindi, and Multan, aiming to attract investments and contribute significantly to national development.
Published in The Express Tribune, December 20th, 2023.