‘CDA to resolve issues of business community’

Islamabad : Capital Development Authority (CDA) auction of plots scheduled to be held on January 24-26 at Jinnah Convention Centre Islamabad. The auction will include commercial, industrial, hotel, hospital, school, petrol pump, class three shopping centre, farm houses and residential plots, says a press release.

In this regard, CDA Member Planning Waseem Bajwa, Member Finance Mazhar Hussain Shah, Head of Treasury Mian Tariq Latif and Director Estate Zahid Ijaz Tarar visited Islamabad Chamber of Commerce and Industry (ICCI) to give a presentation to the business community on the auction.

Speaking on the occasion, Ahsan Zafar Bakhtawari, president, ICCI said that CDA should focus on development works in markets and industrial areas including revamping of sewerage, water supply and sanitation systems, parking facility and carpeting of road to facilitate the growth of business activities.

He said that parking plazas should be built on a war footing basis and encroachments from markets should be removed in cooperation with market associations. He said that work on IJP and Margalla Roads should be expedited to complete these projects soon. He said that ICCI wants to start a plantation drive in collaboration with CDA to improve the environment of the federal capital.

Faad Waheed, senior vice president of ICCI highlighted the issues of Industrial Areas, I-9 and I-8 sectors. He said that additional trade should be allowed on industrial plots, the lease of industrial plots should be automatically extended up to 99 years, excessive water bills and property tax rate should be revised and the process of approval of drawings should be expedited. He said that the performance of one window should be further improved.

Engineer Azhar ul Islam Zafar, vice president of ICCI said that CDA has improved the design vetting process, but he demanded that the completion certificate of commercial buildings should be issued on time as the delay in their issuance causes losses to the investors. Muhammad Ejaz Abbasi, former president ICCI highlighted the issues of builders and gave proposals to improve the post-auction activities to facilitate the investors.

Waseem Bajwa, member planning CDA said the issues of the business community would be resolved in cooperation with ICCI. He said that places have been identified for constructing parking plazas in several markets, which will be constructed in joint ventures with the private sector. He assured that the encroachments would be removed in cooperation with market associations while the issues of Sabzi Mandi and industrial areas will also be resolved.

Mazhar Hussain Shah, member finance CDA said that a meeting of CDA chairman and all members will be held with ICCI to discuss issues of the business community to address them. He said that post-auction activities will be streamlined to give special treatment to the bidders. He stressed that that the business community should actively participate in the CDA auction to take advantage of these attractive investment opportunities. CDA Head of Treasury Mian Tariq Latif assured that the property tax issue will be resolved in consultation with ICCI.