LAHORE: Lahore Development Authority (LDA) Vice-Chairman SM Imran has said that new Industrial areas are being added to Master Plan of Lahore to cater to the future needs of the industrial sector.
He was speaking at the Lahore Chamber of Commerce & Industry on Monday. LCCI President Mian Tariq Misbah presented the address of welcome and highlighted the issues being faced by the business community.
He said that any decision regarding the industrial units which fall in the area of Ravi Riverfront development project would be taken in full consultation with the stakeholders. “The business community will be fully facilitated in this matter”, he added. He stated that the issue of the relatively high water tariff for the industrial sector in Lahore as compared to other cities in Punjab was being looked into. He stated that the issue of the Holiday Park industrial estate would be resolved soon.
LCCI President Mian Tariq Misbah said that the business community appreciated the grand vision of the Ravi Riverfront Development Project as it would enhance the growth rate of housing, construction and many allied sectors.
However, many members of the business community had approached us and shown their concerns regarding this project. The LCCI president said there was insufficient land in and around Lahore for industrial investment and expansion as there were only two major Industrial Estates in Lahore ie Sundar and Quaid-e-Azam industrial Estate which had reached their full capacity.
This is the main reason that the cost of industrial land has gone extremely high in Lahore. LCCI has always advocated for re-zoning of Lahore Division to accommodate the needs of future expansion of Industrial sector.
He said that due to the lack of Industrial Zoning, the industry is overburdened by high rate of conversion fee for land use charged by LDA (20% of the value according to DC rate). He said that LCCI had also proposed that all existing industrial units should be regularised without any prescribed fee and conversion charges.
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