LAHORE, Nov 13: The Lahore Race Club (LRC) is taking concrete measures to encourage new entrants in horse-racing, boost club's financial resources and to increase the prize money, LRC chairman Tariq Aziz said while talking to Dawn on Sunday.

He said the major step being taken was to consolidate financial position of the club so that it would be able to award at least Rs200,000 to the winner of a race in class VII. The amount given at present is Rs50,000.

Mr Aziz said a good facility of racing was available through out the year but new owners were reluctant to come forward. The main reason was financial unsatisfactoriness.

The cost of maintenance, feeding, veterinary services and treatment was on the rise and the stake-money was insufficient to match with the expenditure.

The LRC chairman revealed he was looking for sponsors to finance races besides tapping club's own resources to raise its income. He said that he was in touch with business magnates, reputed commercial establishments and individuals who love and encourage sports and was hopeful to get positive response from them.

Pakistan has the finest breed of horses and it is now being further refined to match with that of any foreign country.

He requested people associated with the racing industry to continue their efforts to bring back the lost glory of the racing sport in the country.