ISLAMABAD-The Islamabad Chamber of Commerce and Industry (ICCI) and the Intelligence Bureau Employee’s Cooperative Housing Society (IBECHS) have signed a memorandum of understanding (MoU) for the establishment of a state-of-the-art Expo Centre in the federal capital.
Ahsan Zafar Bakhtawari, President ICCI, and Shujaat Ullah Qureshi, Secretary, IBECHS, signed the MoU in a ceremony here Saturday. Speaking on the occasion, Tariq Mehmood, President IBECHS, said: “By establishing an Expo Center in the federal capital, we would be discharging an important national responsibility.” He said that the Expo Centre was the backbone of the economy and a joint venture between ICCI and IBECHS for this important project would go a long way in improving the economy. He said that this project would make the region a hub of business activities. He stressed the value addition of products to boost exports and revive the economy. He thanked the ICCI for signing a MoU with IBECHS for this key project and assured that his organization is ready to start more projects with ICCI on a joint venture basis.
Ahsan Zafar Bakhtawari, President ICCI, said that the joint venture between ICCI and IBECHS was a step in the right direction to improve the economy as the Expo Centre would showcase the exportable products of Pakistan and boost exports. He said that China and Turkey had increased their exports and tourism by organizing expos and hoped that this expo center would also help enhance exports and tourism in Pakistan. Shujaat Ullah Qureshi, Secretary IBECHS, said that their society was located at an ideal place and many new development projects would be completed here. He was optimistic that the Expo Center would open up many new avenues for the promotion of business, investment and exports. Faad Waheed, Senior Vice President ICCI, said that the Chamber had been making efforts since long for the establishment of a new industrial estate in the region and it would like to work with IBECHS for materialization of this important project.
Khalid Iqbal Malik, Group Leader ICCI, said that the joint venture between ICCI and IBECHS was a great step for the revival of the economy. He said that Pakistan had great potential to boost exports and hoped that the Expo Center would contribute positively towards achieving this goal. Zafar Bakhtawari, former President ICCI and Secretary General UBG Pakistan, said that the reduction in taxes on real estate would boost foreign remittances and FDI in Pakistan and stressed that the government should take measures in this regard. He said that the Expo Center would also showcase the potential of exportable products of the defence sector and increase their exports. The ICCI will also like to set up JVs with IBECHS for many other projects including hospital, university and college, he added.