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ICCI hopes R3 project to start new era of development in twin cities

ICCI hopes R3 project to start new era of development in twin cities

ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) hailed the Punjab Government for initiating the Rawalpindi Ring Road (R3) project through RDA as it would start a new era of development in the twin cities.

President ICCI, Sardar Yasir Ilyas Khan said business hubs, industrial zones, transport terminals, fruits and vegetables wholesale markets, logistic and education hubs, health city, dry port, recreational parks and residential estates would be constructed on both sides of the R3.

He said that it would uplift economy of the region, boost investment and industrialization, create a lot of new jobs and generate great economic activity in the Potohar region. � He said the R3 would not only reduce traffic congestion in the twin cities, but it would also provide a clean, healthy and safe environment besides making significant contributions to national development.

He expressed these views while addressing the first meeting of ICCI Executive Body of his tenure.

Yasir Ilyas Khan appreciated the initiative of Rawalpindi Development Authority for constituting a Facilitation Committee for preparation of concept of Special Economic Zones along R3 and thanked RDA for making President ICCI as member of that Committee.

He termed it a very positive development as it would enable the private sector to contribute more effectively towards the development of economic zones along R3 through a public-private partnership model.

He said when the special economic zones would be planned and constructed along the R3 in consultation with the stakeholders of the private sector, these zones would address all concerns of the investors and cater to the needs of the current day industry more effectively.

ICCI President said that the Rawalpindi Development Authority (RDA) has set a good precedent by including the representatives of business community in Facilitation Committee for SEZs and urged that Capital Development Authority (CDA) to also include the sitting President of ICCI in its board and in other important Committees in order to protect the interests of business community during policy making process of CDA.

He said giving representation to ICCI in the CDA Board and in its key committees would be very helpful in resolving key issues of the business community and developing the infrastructure in markets, industrial areas and the whole city with joint efforts.

Fatma Azim Senior Vice President, Abdul Rehman Khan Vice President ICCI and the members of ICCI Executive Body lauded the initiative of RDA for including the President ICCI in its Facilitation Committee as it was a very wise decision to give representation to the voice of private sector in its decision making process for R3 project.