LAHORE: Chief Minister Punjab Shahbaz Sharif has directed Lahore Development Authority (LDA) to regularize the existing industrial units that was a longstanding demand of the Lahore Chamber of Commerce & Industry.
The decision was taken at a meeting chaired by the Chief Minister Punjab Mian Shahbaz Sharif and also attended by the LCCI President Abdul Basit, former Senior Vice President Almas Hyder and representatives of different government departments including Lahore Development Authority. Chief Minister also directed Lahore Development Authority (LDA) to reserve areas for the opening of new industries to expedite the process of industrialization. He said that this step would not only facilitate the business community but would also curb the air of harassment that was surrounding the business community.
The LCCI President Abdul Basit while appreciating the Chief Minister Mian Shahbaz Sharif’s decision, said that this initiative would go a long way as it would not only pave way for much-needed foreign direct investment and bring in precious foreign exchange but would also help trust building of the local businessmen. The LCCI President hoped that this healthy liaison of the Punjab government with the business community would continue in future. However, he said, this expansion should also go to Ferozepur Road and Raiwind Lilyani Road.
The LCCI President said that new investment is a must to groom economic activities in Punjab therefore all options should be utilized to attract local and foreign investors. He stressed the need for a regular consultation mechanism to ensure result-oriented research studies to the stakeholders. He said that sectors, opportunities and locations in Punjab should be identified for investment.
Abdul Basit said that research is critical to take a strategic approach to planning or economic growth and improved productivity. It is only through economic growth and improved productivity that we could create employment opportunity.
