‘Industrial estates key to growth’

LAHORE: Industrial estates are imperative for growth, employment generation, exports promotion and economic development of the country, a statement said.

This was stated by Lahore Chamber of Commerce and Industry (LCCI) acting president Khawaja Shahzad Nasir and Vice President Faheem-ur-Rehman Saigal at a presentation on Faisalabad Industrial Estate Development and Management Company (FIEDMC).

FIEDMC Chief Executive Officer Mian Kashif Ishfaq gave a detailed presentation on Faisalabad Industrial Estate Development and Management Company.

FIEDMC always provided state-of-the-art facilities to its customers, besides resolving their issues through one-window operation on top priority, he said.

The LCCI officials said there is a dire need to have a specific industrial policy to encourage the private sector representatives and to start vigorous industrialisation.

Incentives like 10-year tax holiday on corporate incomes and duty-free import of plant and machinery will surely help to a great extent in generating new employment opportunities, they said.

There is no doubt that with the establishment of special economic zones all across the major industrial areas in the country, the present pace of economic development can be enhanced to achieve the desired results, they added.