ISLAMABAD: The Islamabad Chamber of Commerce & Industry has shown great concerns over the CDA Board’s recent approval for allocation of entire I-17 sector for setting up medical city as this sector was earmarked for development of an industrial estate in Islamabad and has called upon the CDA to restore I-17 as industrial sector in order to promote industrial activities in the region.
Sheikh Amir Waheed, President, Islamabad Chamber of Commerce & Industry said that CDA had acquired 5000 kanals of land in I-17 for the development of industrial estate and had paid around Rs.7 billion for its acquisition while 3000 kanal more land was to be acquired in Noon Village for this project. However, after making so much efforts and progress, de-notifying I-17 as industrial sector and allocating it for medical city was not a wise decision as it has created disappointment in the prospective investors of the region.
He said in 2009 CDA, ICCI, Economic Reforms Unit of Finance Division and National Industrial Parks Development and Management Company of Punjab had held meetings to develop a new industrial estate in I-17 and public-private partnership model was also considered to execute this project. He said the business community of the federal capital was looking towards CDA to announce the development of new industrial estate in I-17, but the recent decision of CDA Board has dashed all their hopes.
Sheikh Amir Waheed said that setting up a medical city was a laudable step of the government as it would provide better health care facilities to the general public. However, he said that I-17 was located at the border of Islamabad and it was more suitable for industrial estate. He urged that CDA should consider H-17 for medical city and restore I-17 as an industrial sector.
Muhammad Naveed Senior Vice President and Nisar Mirza Vice President ICCI said that current industrial areas in Islamabad including I-9, I-10 and Kahuta Industrial Estate have almost saturated and if there were any plots available in these areas, their cost was so high that it was not affordable for potential investors. They said that these industrial estates have also been surrounded by the residential areas and in these circumstances, new industrial estate was badly needed in Islamabad for which I-17 was the best place. They urged that CDA Board should reconsider its decision and restore I-17 as industrial sector that would encourage new investment, promote industrialization, create plenty of new jobs and improve exports of the region.
