Islamabad Chamber of Commerce and Industry (ICCI) has urged the government to establish a new industrial zone in the federal capital to boost industrialisation and exports and create jobs for youth.

An Islamabad Industrial Association (IIA) delegation led by its President Zikria A. Zia visited ICCI and urged efforts with relevant government authorities to establish a new industrial zone in the capital.

ICCI President Ahsan Zafar Bakhtawari said that Islamabad was experiencing rapid urbanization and population growth, but the unemployed young talent remained unproductive due to a lack of jobs.

Many investors were keen to set up industries in the Islamabad region but they were unable to do so in the absence of a new industrial zone, he said in a press release received by WealthPK.

Ahsan assured the delegation that ICCI would make efforts to address their issues and urged the government to work with it for the early materialization of this important project that would yield multiple benefits for the economy.

Senior Vice President of ICCI Faad Waheed, Vice President of ICCI Muhammad Azhar-ul-Islam Zafar and Group Leader Khalid Iqbal Malik agreed that the economy was facing multiple challenges and asked the government to focus on promoting investment and industrialization. The move would help revive the economy and overcome the economic problems of the country, they added.

The IIA delegation members said that the Capital Development Authority (CDA)’s board in a meeting had agreed to charge Rs.100,000 per kanal for the lease extension of industrial plots instead of 1% of the current market price of the industrial plot, but the decision had not been implemented yet.

It requested the ICCI take up the issue with the CDA for early implementation of its decision. The delegation also congratulated the new office bearers of ICCI and hoped that they would play an effective role in resolving the key issues of the local industry.

Credit : Independent News Pakistan-WealthPk