The Lahore Chamber of Commerce and Industry (LCCI) has called for promoting cottage industry in the rural areas of the country. The LCCI Acting President Khawaja Shahzad Nasir while addressing the delegation of All Pakistan Cottage Industry, led by Ghulam Sarwar Malik, here on Tuesday said the cottage industry plays a significant role in economic development.
It also provides employment to the people besides helping growth of manufacturing sector, he said. He said that cottage industry should be given due importance in the rural areas to eradicate poverty that would also arrest the migration trend from rural to urban areas.
He cited the example of China, Korea and United States where an equal importance is being given to the small business. The cottage industry is treated at par with large scale manufacturing sector in developed economies. Despite having all resources, the economic downturn in the country is an eye-opener for the people sitting at the helm of the affairs, he added.
The LCCI acting president said that the economic revival of the country would remain a dream until and unless the government redesigns its policies and diverts resources towards cottage industry. Early establishment of a well equipped cottage city on the pattern of industrial zones in the country should be made part of the economic agenda of the government, he maintained. Speaking on the occasion, LCCI Vice President Fahim-ur-Rehman Sehgal called for a two-pronged strategy to cope with the economic meltdown. He suggested to the government to evolve short-term sector-specific policies to break the economic logjam as long term policies generally fall prey to political uncertainties.
The government should expedite process of consultation with the private sector he said and urged the government not to announce any policy without taking the stakeholders on board. Earlier, Chairman All Pakistan Cottage Industry Ghulam Sarwar Malik sought the help of LCCI for the revival of cottage industry and stressed the need for allocation of some space for setting up cottage industry.