FAISALABAD: Faisalabad Chamber of Commerce & Industry (FCCI) has hailed the approval of bill for the establishment of Corporate Restructuring Company (CRC) and hoped that it would play an important role in revival of sick units lying dormant for last many years.
Addressing the executive committee members, FCCI President Atif Munir Sheikh said the legislation had paved way for the improvement of at least 40 industrial units in Faisalabad. He further said the units still had a complete infrastructure with all paraphernalia and they could immediately start production with re-scheduling after their bank installments.
The president said that thousands of jobs would be created in addition to enhancing exports to earn precious foreign exchange. He said that CRC would resolve the banks and finance related problems and facilitate them to restart their units immediately.
He said that some units of Faisalabad had already become operational and were contributing their role
in job creation and exports. He hoped that CRC would take up the issues of sick export units on a priority basis as they could play their key role in enhancing the exports immediately.
The FCCI President also appreciated the efforts of Chenab Group CEO Mian Muhammad Latif for taking
lead and also helping other units to present their cases for their immediate revival.