Islamabad businessmen want new industrial estate

Believe it will step up exports and create job opportunities.

ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) has asked the government to consider establishing a new industrial estate in this region in order to attract investment, promote industrialisation and exports and create more employment opportunities.

In a statement on Wednesday, ICCI President Shaban Khalid said the manufacturing sector was the engine of economic growth and should be high on the priority list of the government’s economic revival strategy.

The ICCI had taken up the matter of the new industrial estate with the Capital Development Authority (CDA) in 2005 and since then it has been pushing for approval of the project, but to no avail.



According to the ICCI, the chamber and CDA had also worked with the Economic Reforms Unit of the Ministry of Finance on this project and a site was identified, but the matter is still lingering on.

Khalid pointed out that existing industrial areas in Islamabad were established in the 1960s and had now been surrounded by residential areas, adding the presence of industry was posing environmental risk to the citizens.

“In the situation, a new and modern industrial estate at a suitable location away from residential areas has assumed additional significance,” he remarked.

He was of the view that the region had great potential to become an industrial hub and a lucrative destination for investors for promoting exports to China, Afghanistan and Central Asian States.

He said economic growth was an important agenda of the government’s manifesto and a new industrial estate at an environment-friendly location would contribute significantly to accelerating economic growth as it would promote investment and exports, create new jobs and generate tax revenues.

Published in The Express Tribune, January 23^rd, 2014.

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