China gives equal importance to small businesses: LCCI chief

Lahore: China is giving an equal importance to the small businesses which had boosted the economy, a top Pakistani businessperson said.

Lahore Chamber of Commerce and Industry (LCCI) President President Mian Nauman Kabir cited the example of China to put the country in the road to prosperity.

Speaking at an event to honour Ghulam Sarwar Malik with the title of Baba-e-Cottage Industry (father of Cottage Industry) for his services for LCCI members belonging to the cottage industry, the LCCI President maintained that China treated the cottage industry at par with Large Scale Manufacturing sector.

Kabir informed that the (LCCI) would also have meeting with the top officials of the government departments so that exporters of cottage industry products can get maximum facilitation.

He called for a two-pronged strategy to cope with economic challenges.

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 opined that government should expedite process of consultation with private sector as the business community was the real stakeholders and no policy should be announced without due consultation with the businessmen.

Speaking on the occasion, LCCI President Mian Nauman Kabir said that the government should give special incentives to the Cottage Industry as the cottage industry is backbone of the manufacturing sector.

The LCCI President said that the role cottage industry was important in economic stability of the country and alleviation of povery and unemployment.

Mian Nauman Kabir stressed that the economic revival of the country would remain a dream until and unless the government redesigns its policies and divert resources towards cottage industry.

LCCI Vice President Haris Ateeq, on the occasion, emphasised that the cottage and small-scale industries are labor intensive and provide employment to more than 80 per cent of the industrial labour force.

“This reduces the unemployment and offers opportunities for self-employment,” he added.

He mentioned that cottage industry also meets the local demands for industrial goods, and save foreign exchange.

In his speech, Ghulam Sarwar Malik sought the help of Lahore Chamber of Commerce and Industry for the revival of cottage industry.

He said that the Lahore Chamber should play its role to get the issues of cottage industry resolved at the earliest.

The decision to honour Ghulam Sarwar Malik was taken by the LCCI President Mian Nauman Kabir in view the longstanding services of Ghulam Sarwar Malik.

LCCI President Mian Nauman Kabir, LCCI Vice President Haris Ateeq, former presidents Mian Shafqat Ali, Muhammad Ali Mian, Sohail Lashari, former Vice Presidents Mian Abuzar Shad, Tahir Manzoor Chaudhry, Executive Committee Members and Ghulam Sarwar Malik spoke at the ceremony.