The Lahore Chamber of Commerce & Industry (LCCI) has urged the government to keep land use conversion charges limited to 1% for industry and regularize the existing industrial units without any prescribed fee and conversion charges.
In a letter written to Chief Minister Punjab Sardar Usman Buzdar, LCCI President Irfan Iqbal Sheikh said that currently land use conversion charges are extremely high and industry would not be able to pay these charges. He said the Master Plan of Lahore was introduced by LDA in 2004 without considering ground realities. In early 90s, the Punjab government allowed to establish industrial units outside the city (Chungi) limited under Rural Industrial Development Program. It resulted in setting up of number of industrial units in and around Lahore Division, he added.
Irfan Iqbal Sheikh said that the Lahore Chamber has always asked for regularizing the existing industrial units without any prescribed fee and conversion charges. "It is a matter of concern that current rate of conversion charges being proposed which are exorbitantly high and it should be limited to 1% for industry," he added.
The LCCI President said that this step would not only end the uncertainty among the business community but would also help accelerating the industrialization in the province besides saving huge investment and employment. He said support of Chief Minister Punjab would further build up relations between public and private sectors that is need of the hour for economic development of the country.
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