Islamabad: The Islamabad Chamber of Commerce and Industry (ICCI) has called on the Capital Development Authority (CDA) to focus on infrastructure development ahead of plot auctions, as reported on October 17. It was emphasised that prioritising infrastructure improvement would better serve potential investors.
Reportedly, CDA Building and Housing Control Director General Faisla Naeem Baig and his team visited ICCI to present the details of the CDA plot auction to the business community. This auction is scheduled to begin today (October 17- 20) at the Jinnah Convention Centre in Islamabad. The auction encompasses plots of various categories, including commercial, industrial, hotel, school, petrol pump, hospital, class three shopping centre, residential plots, and farmhouses.
During the meeting with CDA, ICCI Acting President Faad Waheed expressed the view that the authority should ensure the complete development of essential infrastructure and the provision of necessary services. He highlighted the common issues faced by investors who have made significant capital investments in acquiring commercial plots from the Capital Development Authority (CDA). Many find themselves in challenging situations due to the absence of basic infrastructure and essential services. To address this, there was a strong recommendation that the CDA establish a one-stop facility to simplify the post-auction process, making it more investor-friendly. Additionally, a suggestion was made to allocate the revenue generated from plot auctions for the development of markets and industrial areas, which would stimulate business activities in the region. Another issue raised pertained to the challenges investors encounter when seeking No Objection Certificates (NOCs) from the Environmental Protection Agency (EPA) for construction on auctioned plots. Participants stressed the need for the CDA to actively facilitate this process. Furthermore, it was emphasised that collaboration with stakeholders is crucial for defining building bylaws, as unilateral decisions have caused issues for investors in the past.
Director General Faisla Naeem Baig assured the community that their concerns would be addressed. He underscored the importance of plot auctions as a significant revenue source for the CDA and pledged to reinvest a portion of the proceeds in the development of relevant areas. He also committed to improving infrastructure to support the business community and announced plans to create a one-stop facility for successful bidders in post-auction activities.
Furthermore, ICCI Vice President Engr. Azhar ul Islam Zafar stressed the need for timely issuance of completion certificates for commercial buildings to prevent financial losses for investors. He also called for improvements in the efficiency of the Estate Department to reduce waiting times for investors.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
