ICCI called upon CDA to immediately withdraw the lease extension notices.

ISLAMABAD (APP) – Islamabad Chamber of Commerce and Industry (ICCI) called upon the Capital Development Authority (CDA) to immediately withdraw the lease extension notices to local industries in order to promote trade and business activities in capital city.

ICCI Acting President Fatma Azim called upon the CDA to immediately withdraw the lease extension notices to local industries and implement the CDA Board decision made in August 2020 for rationalization of lease extension fee of industrial plots to settle this issue in an amicable manner, a press release said.

She said the CDA was imposing 1% lease extension charges of the current market price of industrial plots, which was very high and the ICCI had vigorously pursued this matter for revising these high charges.

As a result of these efforts, the CDA Board in its meeting held on 26th August 2020 had rationalized the lease extension fee for industrial plots at Rs100,000 per kanal instead of the 1% charges of the current market price and forwarded this decision to the National Coordination Committee on Housing, Construction and Development (NCCHCD) for endorsement.

However, instead of implementing the CDA Board decision, the civic body had started issuing notices to the local industrialists for lease extension of industrial plots at 1% charges of the current market price or face sealing of plots, which was totally unjustified.

She emphasized that when the CDA Board had approved the rationalization of lease extension fee for industrial plots, there was no justification for issuing notices as industrialists were ready to get lease extensions of their industrial plots at Rs100,000/ per kanal.

She urged the CDA to immediately withdraw its notices to industries and implement the decision of the CDA Board to save the industry from further problems.

She further said instead of issuing lease extension notices, the CDA should keep this matter pending till the endorsement of CDA Board decision from NCCHCD.

ICCI Vice President Abdul Rehman Khan said the industry was already facing great problems due to Covid-19 pandemic and in these tough times, instead of focusing on ease of doing business, the CDA was issuing notices to industries to pressurize them despite the fact that the CDA Board had already decided this matter.

He urged the CDA to immediately withdraw all lease extension notices to industries and implement the CDA Board decision,

otherwise, the business community would be forced to move the court against these unjustified measures of the civic body.