LAHORE –– Cottage Industry is backbone of Large Scale Manufacturing sector, unless and until a special package in the coming budget is announced for the cottage industry economic revival will remain a dream.
These views were expressed by Chairman PIAF Engineer Sohail Lashari while speaking at a reception hosted in his honour by LCCI Executive Committee Member and Chairman Cottage Industry and Small Traders Ghulam Sarwar Malik here on Tuesday.
LCCI Senior Vice President Sheikh Mohammad Arshad, Vice Chairmen PIAF Nadir Kamal Osman, Junaid Iqbal Sheikh, former LCCI Presidents Mian Shafqat Ali and Mohammad Ali Mian also spoke on the occasion.
The PIAF Chairman said that there is no second opinion about it that acute shortage of electricity, fast going up graph of unemployment, deteriorating law and order situation and day to day increase in the prices of petroleum products have necessitated to reset priorities of the government but some relief to the small businesses is also dire need of the hour.
Engineer Sohail Lashari cited the example of China, Korea and United States where an equal importance is being given to the small business. They are treated at par with Large Scale Manufacturing sector.
The Chairman PIAF 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 the affairs.
The LCCI Senior Vice President Sheikh Mohammad Arshad said called for a three pronged strategy to cope with economic meltdown. He suggested to the government to evolve short-term sector-specific policies to break the economic logjam as it has proved that the longer term policies generally fall prey to political uncertainties.
Secondly, he said that the government should avail the option of importing electricity from Iran or any other country to ensure some relief to both the traders and industrialists as a number of industrial units had already shifted their operations to Bangladesh.
Thirdly, the LCCI Senior Vice President said that government should expedite process of consultation with private sector as the business community is the real stakeholders and no policy should be announced without due consultation with the businessmen.
In his welcome address, the LCCI Executive Committee Ghulam Sarwar Malik sought the help of Lahore Chamber of Commerce and Industry for the revival of cottage industry. He said that some well-equipped space in and around Lahore must be allocated by the government for the cottage industry so that the people attached with cottage industry could be able to do their businesses with peace of mind.