MoU signed: ICCI, IBECHS to establish modern expo centre in Islamabad

ISLAMABAD: The Islamabad Chamber of Commerce & Industry (ICCI) and the Intelligence Bureau Employee’s Cooperative Housing Society (IBECHS) have signed a Memorandum of Understanding for the establishment of a state-of-the-art Expo Centre in the Federal Capital. Ahsan Zafar Bakhtawari, President ICCI and Shujaat Ullah Qureshi, Secretary, IBECHS signed the MoU in a ceremony held in a local hotel.

Speaking on the occasion, Tariq Mehmood, President, Intelligence Bureau Employee’s Cooperative Housing Society said that by establishing an Expo Center in the Federal Capital, we would be discharging an important national responsibility. He said that the Expo Centre is the backbone of an economy and a joint venture between ICCI and IBECHS for this important project would go a long way in improving the economy.

He said that this project would make the region a hub of business activities. He stressed the value addition of products to boost exports and revive the economy. He thanked ICCI for signing a MoU with IBECHS for this key project and assured that his organization is ready to start more projects with ICCI on a joint venture basis.

Ahsan Zafar Bakhtawari, President, Islamabad Chamber of Commerce & Industry said that joint venture between ICCI and IBECHS is a step in the right direction to improve the economy as the Expo Centre would showcase the exportable products of Pakistan and boost exports. He said that China and Turkey have increased their exports and tourism by organizing expos and hoped that this expo center would also help enhance exports and tourism in Pakistan.

Shujaat Ullah Qureshi, Secretary, IBECHS said that their society is located at an ideal place and many new development projects would be completed here. He was optimistic that the expo center would open up many new avenues for promotion of business, investment and exports.

Faad Waheed, Senior Vice President ICCI said that ICCI has been making efforts since long for the establishment of a new industrial estate in the region and it would like to work with IBECHS for materialization of this important project.

Khalid Iqbal Malik, Group Leader ICCI said that the joint venture between ICCI and IBECHS is a great step for the revival of the economy. He said that Pakistan has great potential to boost exports and hoped that the expo center would contribute positively towards achieving this goal.

Zafar Bakhtawari, former President ICCI and Secretary General UBG Pakistan said that reduction in taxes on real estate would boost foreign remittances and FDI in Pakistan and stressed that the government should take measures in this regard. He said the expo center would also showcase the potential of exportable products of the defence sector and increase their exports. He said that ICCI would also like to set up JVs with IBECHS for many other projects including hospital, university, college etc.

Khalid Javed, former President ICCI congratulated the ICCI and IBECSH for signing MoU for the expo center as it would be very beneficial for the local economy.

Copyright Business Recorder, 2023