Working group set up for Ring Road estate

Rawalpindi, Islamabad chamber to sit with officials, notification due shortly

RAWALPINDI:

A joint working group of business representatives and government officials has been finalised to move ahead with a new industrial estate along the Rawalpindi Ring Road, with its notification to be issued shortly, Punjab Minister for Industries and Commerce Chaudhry Shafay Hussain said at a meeting with a Rawalpindi Chamber of Commerce and Industry (RCCI) delegation on Monday.

The delegation was led by Patron-in-Chief Sohail Altaf and included RCCI President Nosherwan Khalil Khan and former president Asad Mashadi.

Members of the group will include Altaf, Khan, Mashadi, Islamabad Chamber of Commerce and Industry President Muhammad Zakaria Akbar Khan, former president Khalid Javed, Hajveri Group Chairman Tauqeer Awan, Industries and Commerce Secretary Muhammad Umar Masood, PAIDMC Chairman Shehzad Azam and chief operating officer Ali Moazzam.

The minister said the working group would accelerate the project, adding that the estate would be developed on non-agricultural land in response to industrial demand and the needs of the business community, and that it would generate employment and strengthen regional economic activity.

He highlighted the Chief Minister's Asaan Karobar Finance Scheme and the Punjab government's PIVOT Programme, saying these initiatives would promote investment, industrial growth and job creation.

The RCCI delegation welcomed Punjab's new industrial policy, describing it as business- and industry-friendly, and appreciated income tax exemptions in industrial zones and the provision of interest-free loans.

The delegation congratulated the provincial minister on the initiatives and praised the Asaan Karobar and PIVOT programmes, noting their potential to attract investment, establish new factories and create employment opportunities.

The chamber representatives said industrialisation was essential for Pakistan's economic development and stressed the urgent need to establish economic and industrial zones along the Ring Road, describing the initiative as a potential game changer for investment, industrial expansion and employment generation.

The group will bring together the RCCI, the Islamabad chamber and government officials to take the project forward.