LAHORE, July 17: The Lahore Chamber of Commerce and Industry has hailed the establishment of trade development authority for boosting exports.

Hailing the new trade policy in a statement issued here on Monday, chamber president Mian Shafqat Ali, senior vice-president Abdul Basit and vice-president Aftab Vohra said the establishment of the authority was a right step because the Export Promotion Bureau had failed to come up to the expectation of the business community.

They said the setting up of carpet cities in Lahore and Karachi would give a boost to exports. The plan to establish three more expo centres and the SME Export House would also help in increasing exports.

Setting up of the Dazzle Park in Karachi would give a boost to the sector ignored in the past. Six per cent compensatory rebate would help revive the readymade garment sector, they said.