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Ring Road will served as economic corridor & transit for Punjab

Ring Road will served as economic corridor & transit for Punjab

RAWALPINDI: The Ring Road project will served as an economic corridor and transit for Punjab, around which different zones can be developed as well as the Lei Express Way can be transformed into a modern commercial hub under Public Private Partnership (PPP). Under the Public Private Partnership, the private sector will have ample opportunities to promote investment and business activities. Private sector should come forward and take advantage of emerging opportunities; PPP is an Ideal platform for specialized economic zones and joint ventures in which investment is fully protected.

This was stated by Punjab Chief Minister’s Advisor on Economic Affairs Dr Salman Shah at seminar on Punjab Public-Private Partnership Ordinance 2019 at the Rawalpindi Chamber of Commerce and Industry (RCCI) here on Tuesday.

Addressing traders, Dr. Salman Shah said, there are many challenges faced by IMF program, lower tax collection and debt servicing. This is my first visit to any Chamber of Commerce. The investments under PPP will be fully secured and protected as the board comprises of members from the planning, private sector and Chamber of Commerce, he added.

The Advisor said that Macroeconomic indicators are improving due to government effective economic policies. The exchange rate has stabilized, the current account has surplus and there have been heavy investments in Treasury bills.

Commissioner Saqib Zafar, on this occasion updated the participants on current and future programs where private sector can join under PPP framework. He assured full support and cooperation to business community in this regard.

Chairman Planning and Development, Habib-ur-Rehman Gilani also gave a presentation to the participants on the steps taken to facilitate PPP procedures, opportunities and business opportunities.

Earlier, RCCI President Saboor Malik in his welcome address appreciated the commitment and efforts of Punjab Government in boosting trade activities in the region and thanked for taking Chamber of Commerce on board while formulating the new initiatives.

He said that the private sector should be given incentives to facilitate businesses; the basic facilities including electricity, Gas and road infrastructure should be prioritized for setting up of industries.

The Chamber is actively operating the RCCI Industrial Estate, adding to the scope of the PPP can accelerate industrial development and create more employment opportunities in the area, he added.

Senior Vice President Nosherwan Khalil, Vice President Hamza Saroosh, former presidents, representatives from the trade associations and a large number of members attended the session.