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October 9, 2019

‘Cottage industry being neglected’

Business

October 9, 2019

LAHORE: Failures of the planners to focus on cottage industry has played havoc with economics of millions of family workers, as cottage industries play a significant role in the economic development of any country.

These views were expressed by LCCI President Irfan Iqbal Sheikh, Senior Vice President Ali Hussam Asghar and Vice President Mian Zahid Jawaid Ahmad, while talking to the representatives of the cottage industry.

The cottage industry should be given due importance and should be promoted in the rural areas to eradicate poverty and the trend of migrating from rural to urban areas, they said.

They cited the example of China, South Korea and the US where an equal importance is being given to the small businesses. The small businesses are treated at par with the large scale manufacturing sector.

Despite having all the resources, the economic downturn being witnessed by the country is an eye-opener for the people sitting at the helm of affairs, the LCCI office-bearers said. The economic revival of the country would remain a dream until and unless the government redesigns its policies and diverts resources towards the cottage industry, they added.

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