CPEC project: Various proposals for new industrial estate/zone discussed

ISLAMABAD: Ministry of Planning & Development and Islamabad based businessmen Friday discussed various proposals for the establishment of a new industrial estate/zone in Islamabad to promote industrialization under China-Pakistan Economic Corridor (CPEC) project.

A delegation of Islamabad Chamber of Commerce and Industry (ICCI) led by Muhammad Ahmed Waheed President called on Mathar Niaz Rana, Federal Secretary, Ministry of Planning & Development and discussed with him various proposals for promoting industrialization in the region covering key areas of infrastructure, logistics network and trade routes.

Tahir Abbasi Senior Vice President ICCI and Malik Sohail Hussain Chief Coordinator UBG FPCCI were in the delegation.

Welcoming the delegation, Mathar Niaz Rana, Federal Secretary, Ministry of Planning & Development briefed them about the various initiatives of his ministry and shared details of CPEC projects that offered great opportunity for JVs and investment to the private sector.

He said ICCI could play a role to bring more investors from the private sector in order to exploit the potential opportunities of business partnerships in CPEC projects. He said an industrial zone had been planned in Islamabad under CPEC project and desired that ICCI should share its proposal for the industrial zone that would be given due consideration.

He further said that sector-specific industrial clusters were required in Islamabad to facilitate the potential foreign and local investors in exploring JVs and investment opportunities in such clusters.

Speaking at the occasion, ICCI President Muhammad Ahmed Waheed said ICCI had been making efforts since long for the establishment of a new industrial estate in Islamabad to promote industrialisation as there was no more space in existing industrial areas to set up new industries due to which the potential investors were facing problems.

He stressed that Planning Ministry should cooperate for materialisation of that important project that would give boost to industrial activities and create plenty of new jobs in the region.

Muhammad Ahmed Waheed said ICCI should be taken on board for the establishment of industrial zone in Islamabad under CPEC project and added that ICCI would send its proposal for the said project to make it an industrial zone that could exploit the comparative advantage and human talent of the area and emerge as a hub of industrial activities in the region.

Tahir Abbasi Senior Vice President ICCI and Malik Sohail Hussain Chief Coordinator UBG FPCCI also shared various proposals for industrial development in the region.

Copyright Business Recorder, 2020