Transfer of industries from the China to play key role for industrial development in Pakistan: ICCI chief

Islamabad: President Islamabad Chamber of Commerce and Industry (ICCI) Sardar Yasir Ilyas Khan said on Sunday afternoon that transfer of industries from the China will play key role for industrial development in Pakistan.

The prominent businessperson said the ICCI had proposed the government to develop Industrial State in Capital city Islamabad to provide conducive business environment to the local and foreign investors to contribute in country’s industrial growth.

“For the construction of a new proposed Industrial State, the local business community would contribute Pakistani Rs 5 billion to initiate these mega projects in Islamabad,” he said in an interview with the official media.

Sardar Yasir Ilyas Khan said the proposed industrial zones would be evolved at the same pattern of Special Economic Zones (SEZs) of China Pakistan Economic Corridor (CPEC).

“We would offer equal investment opportunities to the local and foreign investors in the Zone. This industrial zone proposed by the ICCI would be fully equipped with all modern facilities including one window operation (One-stop shop) for achieving the objective of Ease of Doing Business (EODB) in the country,” he said.

The ICCI President said Pakistan had an overall exports potential of US $150 billion through focusing on industrial competitiveness to increase the country’s exports in world potential markets.

“Industrial competitiveness, use of innovative technology, promotion of regional trade and the search for new markets used for exports could take domestic exports to the US $ 150 billion targets,” he said.

To achieve the ambitious target of $150 exports, , he said, “We need to focus more on the productive sectors including agriculture, tourism, textiles products and Information Technology for attaining the agenda of economic development and prosperity in the country.”

President ICCI said that through the efficiency, transparency, accountability and coordination with the business community, the government can achieve the objectives of the current economic agenda.