Industrialization under CPEC the only way forward: Mian Akram Farid

ISLAMABAD-The Islamabad Chamber of Commerce and Industry (ICCI) has called for better development of industrial areas to boost industrialization.

Fatma Azim, acting president of ICCI, along with a delegation of local industrialists called on Tariq Sadiq, former president of ICCI, and congratulated him on being elected as the president of Islamabad Industrial Association (IIA).

Speaking at the occasion, Fatma Azim said that the advanced countries have achieved fast economic growth by promoting the development of industrial zones, but industrial areas in Islamabad were facing multiple problems due to which industrial activities were suffering. She called upon the CDA & MCI to focus on better development of industrial areas in the federal capital that would boost industrialisation in the region and enhance exports. She assured that ICCI would cooperate with IIA in its efforts for resolving the key issues of local industries.

Mian Akram Farid, chairman of Founder Group, said that the best option for the government to uplift the economy, reduce unemployment and enhance tax revenue was to promote industrialisation. He said that the domestic industry needed upgradation for JVs and investment in CPEC and urged that the government should minimize taxes and duties on the import of industrial machinery, plants and equipment for upgradation of industrial units and make them more competitive for producing value added products & promoting exports. He said that the government should also cooperate in upgrading the skills development and knowledge of the industrial workforce to make them more productive. He said that the overseas Pakistanis were sending remittances of USD 24 billion, which could be further enhanced to USD 40 billion if the government takes more measures to facilitate them.

Speaking at the occasion, Tariq Sadiq, newly elected president of Islamabad Industrial Association, said that he would work in coordination with ICCI for improvement of infrastructure in industrial areas of Islamabad. He said that the roads and footpaths in Islamabad’s industrial areas were broken due to which heavy duty vehicles were facing problems in transportation of goods. He said that the water, sanitation and sewerage systems in industrial areas were in pathetic condition while some street lights were also not working. He emphasized that CDA and MCI should take urgent measures to address these issues. He said that industrial areas in Islamabad were providing jobs to thousands of people, but no serious efforts were made to develop them on modern lines. He stressed that CDA should develop all industrial areas in Islamabad on modern lines that would produce multiple benefits for the economy as it would promote industrialization, exports, employment, tax revenue and fast economic growth of the region.

Abdul Rehman Khan, vice president of ICCI, and other members of delegation said that the CDA in the past had cancelled some industrial plots on the pretext of non-conforming use and demanded that CDA should restore all such cancelled plots and allow multiple businesses on them to promote business activities. He further urged that the government should take measures to address all key issues of the industrial sector so that the industries could flourish and put the country on the path of sustainable economic growth.

Abdul Rehman Khan, vice president ICCI, Mian Akram Farid, chairman Founder Group, Khalid Javed, Mian Shaukat Masud, Nasir Khan, Ch. Waheed ud Din, Sheikh Atif Ikram, Karim Aziz Malik, Umer Hussain, Omais Khattak and Hafiz Bilal Munir were in the delegation.