Daily Times

Muhammad Ahmad Waheed, President Islamabad Chamber of Commerce and Industry (ICCI), has called upon Capital Development Authority (CDA) to re-allocate Sector I-17 for establishment of new industrial estate in Islamabad that would boost industrial development in the region and create jobs.

He said that there is no scope for setting up new industry in the existing industrial estates in Islamabad. He said that Prime Minister Imran Khan had announced new incentives for the construction industry that would also be beneficial for establishment of new industrial estate in the federal capital, which was the dire need of the hour. Waheed said that about 10 years ago, an industrial estate was announced in Sector I-17 of Islamabad and for this purpose the locals were paid the price of land but due to some unknown reasons I-17 The sector has been de-notified for industrial estate. However, this move has disappointed the potential investors who were interested in setting up new industries in Islamabad.

The ICCI president said that an industrial zone has also been proposed to be set up in Islamabad under CPEC project but the CDA has made an excuse that it does not have space to set up an industrial zone in Islamabad and the federal government could direct Punjab to set up an industrial zone.

He further said that plots in the existing industrial sectors in Islamabad have become so expensive that the cost of setting up a new industry has increased manifold making it impossible to set up new industries in these sectors. He said that the condition of existing industrial sectors of Islamabad has also deteriorated while Kahuta Industrial Triangle was still deprived of basic amenities despite the passage of many years. He appealed to the Finance Advisor Dr Hafeez Sheikh to re-allocate Sector I-17 for Industrial Estate to promote industrialization in the area and allocate funds in the next budget for its establishment.