Report: Hurish Shah FT:
ISLAMABAD — National Coordinator of the Special Investment Facilitation Council (SIFC), Lieutenant General Asad ur Rehman Afzal Cheema, has said that the process of identifying land for establishing a Special Economic Zone in Islamabad is underway in consultation with the Punjab Government.
He stated this during a meeting with a delegation of the Islamabad Chamber of Commerce and Industry (ICCI), led by President Mohammad Zikria Akbar Zia, to discuss business challenges and measures to promote industrialization, investment and economic growth.
Lt. Gen. Asad Cheema assured the delegation that the issues raised would be referred to relevant authorities for resolution. He also encouraged the business community to submit administrative and regulatory complaints through the SIFC portal.
He endorsed the proposal for establishing a modern exhibition centre near Islamabad and highlighted investment opportunities at the Karachi Industrial Estate.
Earlier, ICCI President Mohammad Zikria Akbar Zia stressed the need for a modern industrial estate and an international-standard exhibition and convention centre in Islamabad to promote investment, exports and employment opportunities.
He also highlighted business-related challenges, including State Bank regulations concerning debt recovery and high port charges, and called for consistent economic policies with a minimum ten-year framework to strengthen investor confidence.
ICCI Senior Vice President Mohammad Ashfaq Hussain Chatha highlighted administrative and regulatory issues involving the CDA and FBR.
It was agreed that an ICCI delegation representing different business and industrial sectors would visit SIFC next week to review its investment facilitation initiatives.
ICCI Secretary General Ghulam Murtaza, Major General Sajid Amin, Director General SIFC, Colonel Mohammad Hafeez and other senior officials also attended the meeting.
