The Lahore Chamber of Commerce and Industry (LCCI) on Wednesday welcomed the decision to withdraw the plan of Kahna Kacha industrial area conversion into a residential society. LCCI President Sheikh Muhammad Arshad said that the decision would go a long way and will not only remove unrest among the business community but would also save jobs of millions industrial workers. Terming non-conversion of Kahna Kacha industrial area into a residential society a good policy, he said that the decision would restore the confidence of the industrialists who were in deep trouble and would also boost the industrial activities.
He said that over hundred industrial units at Kahna Kacha industrial area are not only providing employment to the thousands workers but also bringing in precious foreign exchange. He said that conversion of Kahna Kacha industrial area was a bad decision that was bound to bring down the graph of government popularity but shelving the plan shows that Punjab government wants to promote industrial activities in the province. All trade and industry related decisions should be taken with due consultation of the stakeholders, he added.
He said that industrial estates and free zones always attract local and foreign investment and contribute in economic development of any country. It makes a vital contribution to the national exports besides generating huge employment opportunities. Pakistan has already lost a number of international markets while the condition of both local and foreign investment is also precarious. Therefore decisions should be taken to promote industrialisation, he maintained.