LAHORE:
The Lahore Chamber of Commerce and Industry (LCCI) has called for the early setting up of an export processing zone in Lahore as it is one of the largest industrial cities of the country and can contribute to boosting exports in a big way.
LCCI President Irfan Qaiser Sheikh, while talking to Export Processing Zone Authority (EPZA) Chairman Tariq Hassan at the LCCI, said except for the export processing zone (EPZ) in Karachi, other zones had failed to generate desired level of economic activity and also could not succeed in attracting investors.
Sheikh, however, said there were security issues as well as wide gap in facilities promised and provided by EPZA. He asked EPZA to be more professional while focusing on the results.
He said EPZA consumed a fair amount of the federal budget in order to encourage domestic and foreign investors to invest in EPZs so that exports could be increased as the country was in dire need of foreign exchange.
Though LCCI and EPZA signed a memorandum of understanding (MoU) way back in 1997 to establish an EPZ in Lahore, they could not push ahead with the plan due to unknown reasons.
At present, nine EPZs are working in the country while land deal for the 10th zone in Mirpur will be finalised in a day or two.
Speaking on the occasion, the Export Processing Zone Authority chairman sought LCCI’s cooperation for establishing a Halal Export Processing Zone in Lahore.
Highlighting the facilities at the zones, Tariq Hassan said EPZA offered intending investors an excellent, market-friendly and secure atmosphere in its processing zones. “Operating procedures are simple, hassle-free, easy to understand and save time.”
He said bright prospects existed for profit-making in a myriad of projects ranging from consumer goods to mineral exploration and processing.
Published in The Express Tribune, March 21st, 2012.
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