Industrialists demand a new industrial estate in region to boost exports

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Islamabad

A delegation of Islamabad Industrial Association (IIA) on Saturday urged the government to establish new industrial estate in the region to boost exports by promoting industrial activities.

The delegation led by its President Sheikh Tariq Sadiq visited the Islamabad Chamber of Commerce and Industry and discussed the importance of the establishment of a new industrial estate in the region to boost industrialization, investment and exports.

Addressing the delegation, Muhammad Shakeel Munir, President, Islamabad Chamber of Commerce and Industry said about 1200 industries were working in Islamabad region including steel, marble, flour mills, pharmaceuticals, IT and light engineering, said a news release issued here.

Besides, chemicals and soap, edible oil, cement, furniture were also working and there was a dire need of a new industrial estate in the region to set up more industries.

The existing three industrial estates in the region had insufficient space for new industries and expanding existing industries. Due to the situation, potential investors were shifting to other regions.

He urged the government to cooperate with ICCI and IIA for the establishment of an industrial zone in the region that help promote industrialization, employment creation, investment promotion and tax revenue generation for the government.

Mian Akram Farid, Chairman, Founder Group and Sheikh Tariq Sadiq, President, Islamabad Industrial Association said ICCI had been making efforts since long with the federal government, CDA and recently with RDA, but this important project could not be materialized as yet.

They urged the government to cooperate with ICCI and IIA to realize this important project that help promote regional trade and exports.

They said the government should announce a special incentives package for industries on the pattern of construction package to accelerate industrialization in the country that would bring multiple benefits to the economy.

It would also attract more FDI and foreign companies to Pakistan with technology transfer for JVs.
Jamshaid Akhtar Sheikh Senior Vice President, Faheem Khan Vice President ICCI, and other members of delegation emphasized upon the government to allow duty free import of industrial machinery to upgrade the domestic industries for producing value added products that would help boost exports significantly.—APP

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