PESHAWAR: President Sarhad Chamber of Commerce and Industry (SCCI), Faiz Muhammad Faizi Monday termed construction of Khyber Pass Economic Corridor by World Bank as a great milestone for promoting trade between Pakistan, Afghanistan and Central Asian Republics (CARs).
The project will also promote trade and commercial activities in Khyber Pakhtunkhwa and adjacent tribal districts, he added.
According to a press release, this was said by President SCCI while talking with officials of World Bank including Adja Mansora, Senior Private Sector Specialist and Ghazan Gamal, Local Development Consultant who called on him at his office on Monday.
Former President Federation of Pakistan Chamber of Commerce and Industry (FPCCI), Ghazanfar Bilour, Former President SCCI, Zahidullah Shinwari, Chairman All Pakistan Commercial Exporters Association (APCEA), Manzoor Elahi and former Vice President of SCCI, Haris Mufti and Syed Aftab Hayat were also present on the occasion.
During the meeting, the visiting team apprised businessmen that World Bank has approved construction of Khyber Pass Economic Corridor for promotion of trade with Afghanistan, CARs and for economic development of tribal districts.
The mega Economic Corridor project consists construction of Express Highway, Especial Economic Zone, Link road, Trekking Yards and ware houses.
The World Bank, they continued, will construct a four lines Express Highway from Peshawar to Torkhem at a cost of US dollar 462 million.
The World Bank team gave a detail briefing about the objectives and benefits of Khyber Pass Economic Corridor.
Speaking on the occasion, President SCCI, Fiaz Muhammad Faizi termed construction of Khyber Pass Economic Corridor as a welcome development for economic uplift of FATA and for strengthening of economic link between Pakistan, Afghanistan and CARs.
The SCCI members suggested for establishment of small industrial estates so that the existing industries in tribal districts are not affected.
They also suggested for different places including Shah Kas, Rahiim Abad, Mattani, Mohmand Agency, Kurram Agency and other areas as suitable setting up of different industries through which not only commercial activity will enhance in tribal districts but also job opportunities would be created.
The World Bank team assured SCCI members for giving due consideration to their suggestions.