RECORDER REPORT

LAHORE: The Lahore Chamber of Commerce and Industry has welcomed the Lahore Development Authority’s (LDA) move to decrease 10 percent of commercial fees from existing 20 percent for establishing new educational institutions and hospitals.

LCCI President Abdul Basit in a statement on Thursday said that according to new amendment in Land Use Rules, 2014, by LDA, schools and hospitals will pay 10 percent of commercial fee instead of 20 percent. This initiative would bring down the establishment cost of educational institutions and hospitals and enable them to provide low-cost educational and facilities to the masses, he added.

Now educational institutions and hospitals are duty-bound to transfer benefits of reduction in commercial fees to the masses. He said corporate offices should also be given same facility which would make the business environment better and help build trust between the government and the private sector.

The LCCI President urged LDA to re-commercialize those roads which were de-commercialized due to unknown reasons. Lahore is the second largest city of the country and rapidly emerging as a hub of trade and economic activities. The commercialization of major roads of the city would attract new investment and give a boost to the local economy besides creating hundreds of new job opportunities, he added.

He said the Lahore Chamber is ready to give input to LDA in this regard and hoped that Authority would act promptly to re-commercialize the major roads of the city.