Experts have found that 62 percent of The LSF has been held on an annual basis since 2011. PHOTO: FILE
Seeking to revitalise consumer spending and the retail sector, the Lahore Chamber of Commerce and Industry (LCCI) will organise the Lahore Shopping Festival from August 17-26 for the denizens of the historic city.
This time around, the LSF has been expanded in scope, as the organisers have engaged all retail markets, brands and food outlets of the city to offer special discounts for the duration of the festival to attract a wide group of consumers and stimulate economic activity.
The LSF has been held on an annual basis since 2011. So far, the festival had been limited to seminars, expos and different competitions, which had limited the scope of the festival as it had been envisioned. This year, however, the LCCI management has decided to engage the masses for a period of nine days, aiming to supplement the government’s efforts in turning the province into a hub of economic and cultural activities.
The LCCI Senior Vice President, Irfan Iqbal Sheikh, had been tasked with engaging all trader unions of the city and encourage them to participate actively in the event by offering discounts on their products. Sheikh, who has been a pioneer in Lahore’s retail sector, told media that all popular apparel, cosmetic and food brands operating in the city will offer special discounts on the occasion so that more and more people can shop, eat and participate in the event. He expressed the hope that the retail, sales and tourism sectors would witness a revitalisation in economic activity, especially after slowing economic activity over the past few years.
“Our aim is to make this [event] similar to the Dubai Shopping Festival. Although that is not an easy task and will take many years, we are committed,” Sheikh said. Three major markets in Lahore – the Liberty market, the Anarkali bazaar, And Moon Market Allama Iqbal Town – will be the epicentres of activity during the event, but Sheikh said that all other markets will participate too. The major attractions in these areas will include a food festival, a concert and a puppet show.
The Young Entrepreneurs Business Plan Competition will also be part of the festivities, for which students from leading universities and colleges will be encouraged to take part in a business plan competition. The objective of the activity is to inculcate and promote entrepreneurship among students, Sheikh said.
Published in The Express Tribune, June 29th, 2013.
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