CDA’s unjustified property transfer fees turning Islamabad into ‘no go area’ for investors: ICCI President
Islamabad: Federal Minister for Communications Abdul Aleem Khan has reaffirmed the Federal Government’s commitment to upgrading the road network across the country, terming it vital for the masses and the business community. He said this while addressing an impressive ceremony titled “A Night of Celebration” held in honour of renowned business personality and newly elected President of Islamabad Chamber of Commerce and Industry (ICCI), Sardar Tahir Mehmood. The event was hosted by Chaudhry Abdul Rauf, Chairman Fair Deal Group of Companies.
Highlighting major road projects, the Minister said that the Sukkur-Hyderabad and Hyderabad-Karachi Motorway, the country’s most important motorway, will soon be inaugurated this year and is expected to be fully completed within two years. He said this project will connect Sukkur with Karachi Port, playing a pivotal role in boosting the national economy. He also informed that the N-25 (Karachi-Quetta) project is under construction and will be completed soon.
He announced that another strategic project from Mansehra to Kaghan, Naran, and Babusar Top is under consideration, to be built on a motorway pattern, serving as an alternate to the Karakoram Highway. He further disclosed that work on the Sialkot-Kharian-Rawalpindi Motorway is about to begin, which will reduce the Lahore-Islamabad distance by 100 kilometers, cutting travel time to just two and a half hours. Similarly, a Kasur-Lahore-Okara-Sahiwal road link connected with the Karachi Motorway is also being considered.
Abdul Aleem Khan said that Pakistan is blessed with immense opportunities and resources, and despite challenges, the nation has the resilience to bring the country back on the path of progress. He assured the business community of his full support, pledging to act as their advocate for ensuring a business-friendly environment.
Speaking on the occasion, President ICCI Sardar Tahir Mehmood underlined the pivotal role of ICCI as a self-sufficient body working tirelessly for the facilitation of the business community. He drew the Minister’s attention to the pressing issues created by the Capital Development Authority (CDA), stating that the fate of Islamabad’s businesses and residents is often decided unilaterally by a handful of bureaucrats without consulting stakeholders. He noted that irrational and unjustified property transfer fees and FAR charges have pushed investors away, virtually turning Islamabad into a “no-go area” for businesses. He stressed that CDA must frame business-friendly policies instead of anti-business measures to revive economic activity in the capital.
Earlier, Chaudhry Abdul Rauf, Chairman Fair Deal Group of Companies, in his welcome remarks, extended heartfelt congratulations to the newly elected ICCI leadership and lauded the Founder Group for making the best choice in selecting Sardar Tahir Mehmood. Terming real estate as the backbone of the economy, he called for a comprehensive national real estate policy to address the challenges faced by the sector.
Naeem Warrich, Director Sales & Marketing Park View City, also felicitated the ICCI team and expressed confidence in their ability to deliver under visionary leadership.
The ceremony was attended by ICCI Founder Group Chairman Tariq Sadiq, Council Members, Executive Board Members, and a large number of leading business personalities of the twin cities, making it a remarkable gathering of the business community.
Sohail Majeed is a Special Correspondent at The Diplomatic Insight. He has twelve plus years of experience in journalism & reporting. He covers International Affairs, Diplomacy, UN, Sports, Climate Change, Economy, Technology, and Health.
