LAHORE: The Lahore Chamber of Commerce of Commerce & Industry on Tuesday welcomed the package offered to the industrial sector.

While reacting to the industrial package announced by the Prime Minister, the LCCI President Mian Nauman Kabir said that it is a good support to the industry. He said that protection of the stakes of industrial sector and a good pace of economic progress is a must to tackle the ongoing challenges.

The LCCI president said that the economic development of the country is directly linked with the development of the industrial sector. He said that the development of industrial sector would attract the foreign investors.

Kabir further said that due attention should be paid to the export-oriented industries to lift exports and to earn much needed foreign exchange.

He said that we are in a dire need of market diversification in our exports.

He said there is also a dire need to put in place barter mechanism for trade with Iran.

The LCCI chief said that the cost of land for the business community in the Industrial Estates has reached to exorbitantly high levels. There is a need for a simple lease policy through which the land in the existing/new Industrial Estates can be provided at reasonable rates on long term lease.

Copyright Business Recorder, 2022