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LAHORE: Lahore Development Authority (LDA) Vice Chairman Sheikh Muhammad Imran has said that the new master plan of Lahore will cater to the future needs of the industrial sector.

He was addressing a seminar on the preparation of the Lahore Master Plan 2050 that was organised by LDA at the Lahore Chamber of Commerce and Industry (LCCI) here on Thursday. LCCI President Mian Tariq Misbah was present on the occasion.

The Vice Chairman said that in the past, all master plans were made without keeping in view the ground realities and due consultation with the stakeholders; "the new master plan is being evolved under wide consultation with the stakeholders to protect their stakes".

"We are making new Master plan for the next generations and special attention is being given to the environment according to the vision of Prime Minister Imran Khan. All decisions will be finalised in consultation with the Lahore Chamber," he said.

LCCI President Mian Tariq Misbah said that there was insufficient land in and around Lahore for industrial investment and expansion as there were only two major industrial estates in Lahore, i.e. Sundar and Quaid-e-Azam Industrial Estate, which had reached their full capacity. This was the main reason that the cost of industrial land had gone extremely high in Lahore, he added.

He said that LCCI has always advocated for re-zoning of Lahore Division to accommodate the needs of future expansion of the industrial sector. "Due to the lack of industrial zoning, the industry was overburdened by the high rate of conversion fee for land use charged by LDA (20 percent of the value according to DC rate)," he added.

"LCCI had also proposed that all existing industrial units should be regularised without any prescribed fee and conversion charges," he said.

He also said that the business community appreciated the vision of the Prime Minister regarding the Ravi Riverfront Development Project, as it would enhance the growth rate of housing, construction and many allied sectors.

Copyright Business Recorder, 2021

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