Islamabad: Asad Umar, the Minister for Planning, Development, and Special Initiatives, announced on Thursday the establishment of a new industrial zone in Islamabad.
The decision was reached during a meeting between the Planning Minister and a team led by Muhammad Shakeel Munir, President of the Islamabad Chamber of Commerce and Industry (ICCI).
The minister stated that existing industrial regions in the capital must be expanded in order to produce economic activity and jobs, and that the new zone would also assist in increasing revenue and generating valuable foreign reserves in the form of exports.
According to the minister, as the capital, a model Industrial Estate was urgently needed to promote the country’s industrial development to foreign visitors.
The ICICI representatives reviewed the essential components of the project with the federal minister and expressed their thoughts on the construction of the new industrial zone.
Asad Umar, who welcomed the newly elected ICCI delegation, claimed that the new zone would include electricity, gas, water, and other basic services.
He said that this initiative would provide jobs not only for Islamabad residents, but also for residents of the surrounding districts, and that it would contribute in industrialization. The group also explored how the project could be developed as a public-private partnership (PPP).