Lahore - As the Punjab government has shelved Kahna Kacha Industrial Estate’s (KKIE) relocation plan, the Lahore Chamber of Commerce & Industry on Wednesday welcomed the decision.

LCCI President Sheikh Muhammad Arshad, Senior Vice President Almas Hyder and Vice President Nasir Saeed said that the decision would not only remove unrest among the business community but would also save jobs of millions of industrial workers.

Terming the government’s decision to not to go ahead with the conversion of KKIE into a residential society a good one, they said it would restore the confidence of the industrialists who were in deep trouble and would also boost the industrial activities.

They said that over hundred industrial units at KKIE are not only providing employment to thousands of workers but also bringing in precious foreign exchange.

The LCCI office-bearers said that converting the industrial estate into a residential colony was a bad decision that was bound to bring down the graph of the government’s popularity.

“However, now the Punjab’s government’s decision to shelve the plan shows that it wants to promote industrial activities in the province,” they added. They said that all trade and industry related decisions should be taken with due consultation of the stakeholders.

They said that industrial estates and free zones always attract local and foreign investment and contribute in economic development of any country. These make a vital contribution to the national exports besides generate huge employment opportunities. They said that Pakistan had already lost a number of international markets while the condition of both local and foreign investment is also precarious. Therefore decisions should be taken to promote industrialization.