LCCI, SPFC collaborate

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) and South Punjab Forest Company (SPFC) will make join efforts to promote investment in forestry sector of South Punjab and will also highlight the forestry opportunities offered by the provincial government, a statement said on Monday.

Tahir Rasheed, CEO of SPFC, briefed Abdul Basit, president of LCCI, about the company, saying it is a Punjab government entity, established as a public sector company, which aims at stimulating the private sector investment alongside public money to reduce deforestation in Punjab and to combine forest conservation with sustainable economic development.

SPFC is offering 99,077 acres for forestation and range management to investors for 15 years, he said, adding that the land exists in five districts of South Punjab including Bahawalpur, Rahim Yar Khan, Rajanpur, Muzaffargarh and DG Khan.

This initiative will benefit the local economy by creating over 15,000 jobs and most importantly provide sustainably farmed wood to the wood-based industry, eventually reducing logging pressure on the natural forests of Pakistan, he added.