RAWALPINDI:
The Punjab Industrial Zone Development and Management Corporation has approved the establishment of an industrial zone instead of an economic zone along the Rawalpindi ring road project. After formal approval through legislation from the Punjab Assembly, the process of land acquisition for the industrial zone is expected to begin.
The 38.6 kilometer Rawalpindi Ring Road, stretching from Banth Interchange on GT Road to Thalian Interchange on the Expressway, has entered its final stage 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 Interchange – designated as a large-scale interchange – 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 complete the link road from Thalian to Sangjani later.
The business world has long called for the creation of an economic zone on both sides of the ring road. Punjab Industries Minister Chaudhry Shafay Hussain had earlier announced his approval for such a project during a visit to the Rawalpindi Chamber of Commerce and Industry.
However, business leaders were told that the tax exemptions and incentives required for an economic zone could not be granted due to IMF-related political constraints.
The authorities have instead proposed the development of an industrial zone, for which land acquisition could take place under Section 4 after approval from the Punjab Assembly.
Under the proposed plan, land would be acquired and made available to industrial investors at affordable rates to encourage large-scale industrial development in the region.
RCCI Chairman Usman Shaukat confirmed that an industrial zone, instead of 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 land was provided at reasonable prices.
Four of the Ring Road’s five interchanges – Banth, Chak Beli Khan, Adiala and Chakri – are nearing completion along with the main road, and the project is expected to be opened to traffic after a groundbreaking ceremony in mid-June.
