LCCI wants CM Shahbaz to take notice
The Lahore Chamber of Commerce & Industry has urged the Chief Minister Punjab Mian Shahbaz Sharif to take immediate notice of plot cancellation move in Sunder Industrial Estate (SIE) as it is totally against his industrial vision.
While addressing an urgent Press Conference at the Lahore Chamber of Commerce & Industry, the LCCI Acting President Khawaja Khawar Rasheed said that industrialists of Sunder Industrial Estate should be given at least 3 years time for construction while all necessary facilities including electricity and gas should be provided within this period.
He said that plot cancellation drive would have dire economic consequences as it would discourage not only domestic industrialists but would also be hindering the foreign investment. The LCCI Vice President Zeshan Khalil, Amjad Ali Jawa, Shahzad Azam Khan and Sunder Industrial Estate Plot owners also spoke on the occasion.
The LCCI Acting President said that vacant plots at SIE are being cancelled without ascertaining the reasons behind the nonestablishment of industries in the prime industrial estate of the country. He said that Sundar management had promised to provide power, gas, water, commercial area, food court, residential colony and transportation for employees", they said and added that industrialists are bearing additional cost on transport and provision of residence to the labour. He said that that two transformers of 34-34 MW are working in Sundar Industrial Estate while industries of these areas require around 170 MW of electricity (already sanctioned load). They said that in the present scenario, who will invest in just buildings when existed industries are facing shortfall of around 100 MW of electricity.
He said that vacant plots in Sundar Industrial Estate were purchased by the genuine businessmen to establish industries but lack of sufficient facilities, as promised at the time of allotment of land to establish industries, hampered the process of industrialization. He said that initiatives like cancellation of plots would scare away prospective investors. They said the entrepreneurs had pinned high hopes on the BOD of Punjab Industrial Estate and expected it would cut down on its expenses.
The LCCI Acting Chief urged the Chief Minister Punjab to take notice of cancellation drive that is bound to hit the industrialization process in the province hard besides shattering the confidence of local investors who are putting in their money into the economic activities despite challenging conditions.