ISLAMABAD, Dec. 09 (INP-WealthPK) — The Lahore Chamber of Commerce and Industry (LCCI) has demanded the government allocate land for the establishment of a cottage city, and also formulate tax policies for the sector as the cottage industry is not only a building block of the economy but is also critical for alleviating poverty and unemployment in the country.
This was stated by LCCI President Kashif Anwar, Senior Vice-President Chaudhry Zafar Mahmood and Vice-President Adnan Khalid Butt while talking to a delegation of All Pakistan Cottage Industry Association led by its Chairman Ghulam Sarwar Malik.
The LCCI officials said that economic revival of the country would remain a dream until the government redesigned its policies and diverted resources towards the cottage industry. They said that the early establishment of a well-equipped cottage city on the pattern of industrial zones in the country should be made part of the economic agenda of the government.
They cited the example of Bangladesh, China, Korea and United States where an equal importance is being given to small businesses, treating them on a par with the large-scale manufacturing sector. They said that 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 officials said the cottage and small-scale industries are labour intensive and are providing employment to 80% of the industrial labour force, helping reduce unemployment rate and offering opportunities for self-employment. They said that cottage industry also meets the local demands for industrial goods, and saves foreign exchange. They said that the government should also give the status of industry to the cottage sector.
On the occasion, Ghulam Sarwar Malik sought the help of the LCCI for the revival of cottage industry. He said that some well-equipped space must be allocated by the government for the cottage industry so that the people attached with it could be able to do their businesses with peace of mind.
