Lahore needs an Export Processing Zone, claims LCCI


The Lahore Chamber of Commerce and Industry has called for early establishment of Export Processing Zone (EPZ) in Lahore as it is one of the largest industrial cities in the country and could contribute to jack up exports in a big way. The LCCI President Irfan Qaiser Sheikh was talking Chairman, Export Processing Zone Authority (EPZA) Tariq Hassan during his visit to the Lahore Chamber of Commerce & Industry on Tuesday. LCCI former Senior Vice President Sohail Lashari also attended the meeting. The LCCI President said that it was very unfortunate that except EPZ in Karachi, the other EPZs have neither succeeded in generating the desired level of economic activities nor attracted the investors to venture in these sites.
Irfan Qaiser Sheikh said that it has been observed that there are security issues as well as wide gaps in the facilities promised and finally delivered by EPZA. He said that EPZA needs to be more professional while focusing on result oriented approach. The LCCI President said that the EPZA consumes a fair amount of share from the federal budget in order to function in such a manner that local as well as foreign investors are motivated to invest in EPZs so that the exports from Pakistan could be increased as the country at the moment was in dire need of foreign exchange and the EPZA needs to be proactive.