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Industrial Policy Needed to Encourage Private Sector For Vigorous Industrialization


LAHORE– Industrial estates are imperative for the industrial growth, employment generation, exports promotion and economic development of the country and specific industrial policy is need of the hour for vigorous industrialization.

This was stated by the 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) at the Lahore Chamber of Commerce & Industry.

Chief Executive Officer of FIEDMC Mian Kashif Ishfaq, Sohail Lashari, Nadeem Qureshi, Aurengzeb Aslam and Mian Muhammad Nawaz were also present on the occasion.

Khawaja Shahzad Nasir and Faheem-ur-Rehman Saigal said that special economic zones are the need of the hour. We have to take certain steps to divert investments to industrial sector. There is a dire need to have a specific industrial policy to encourage the private sector representatives to start vigorous industrialization.

Incentives like 10 years tax holiday on corporate incomes and duty free import of plant and machinery will surely help to a great deal in generating new employment opportunities.

“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.

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

He said that FIEDMC always provided state of the art facilities to its customers besides resolving their issues through one window operation on top priority basis.— PRESS RELEASE