RAWALPINDI:
The Punjab Industrial Estate Development and Management Company has approved the establishment of an industrial estate in lieu of an economic zone next to the Rawalpindi Ring Road project. Following formal approval through legislation by the Punjab Assembly, the land acquisition process for the industrial estate is expected to begin.
The 38.6-kilometre-long Rawalpindi Ring Road, stretching from Banth Interchange on GT Road to Thalian Interchange on the expressway, has entered its final phase of completion under a revised PC-I costing Rs 51 billion.
The project is expected to be completed by mid-June.
However, construction of the Thalian link, designated as a broad-based link, has been delayed. The authorities plan to inaugurate and open the ring road to traffic without waiting for its completion, while the National Highway Authority (NHA) will later complete the connecting route from Thalian to Sangjani.
Businessmen have long demanded the creation of an economic zone on both sides of the ring road. Punjab Industry Minister Chaudhry Shafay Hussain had earlier announced the approval of the said project during a visit to Rawalpindi Chamber of Commerce and Industry.
However, business leaders were informed that the tax breaks and incentives needed for an economic zone could not be granted due to IMF-related political restrictions.
Instead, the officials proposed the development of an industrial estate, for which land acquisition could proceed under Section 4 after approval by the Punjab Assembly.
Under the proposed plan, land would be acquired and made available to industrial investors at affordable prices to encourage large-scale industrial development in the region.
RCCI president Usman Shaukat confirmed that an industrial estate, rather than an economic zone, was now a realistic option for the ring road area.
He said industrialists would be willing to set up industries there if they were provided with land at reasonable rates.
Four of the five interchanges on the ring road (Banth, Chak Beli Khan, Adiala and Chakri) are nearing completion along with the main route, and the project is likely to open to traffic after a groundbreaking ceremony in mid-June.
