Lahore Chamber of Commerce and Industry to give comprehensive recommendations to the government for revival of economic activities in the country
Lahore, October 25, 2013 (PPI-OT): The Lahore Chamber of Commerce and Industry has decided to give a set of comprehensive recommendations to the government for the revival of economic activities in the country in general and in the province of Punjab in particular.
The decision was made at a meeting of LCCI President Engineer Sohail Lashari with a 4-member delegation of Ferozepur Road Welfare Organization (FRWO) led by its Chairman Riaz Ahmad Sheikh here at Lahore Chamber of Commerce and Industry.
The LCCI President said that the Lahore Chamber of Commerce and Industry had already started spade work to this regard and fast holding meetings with trade and industrial associations to gather the challenges being faced by them and their impact on economic activities.
He said that these recommendations would be presented to the Prime Minister and Chief Minister Punjab for their implementation. Engineer Sohail Lashari said that business community was the backbone of the economy as more than 90% revenue is being generated through trade and industry. Therefore, the businessmen should be given due facilitation and for the purpose the LCCI would continue to play its role proactively.
He said that Federal Board of Revenue would not be able to achieve its revenue target without providing a business friendly atmosphere to the business doing people.
Engineer Sohail Lashari said that during their meetings with a number of trade and industry associations, they came across quite a few issues that could be resolved only through facilitation to the business community. He said that problems like traffic mess, encroachments, infrastructure development and law and order need to be tackled on urgent basis as these are hampering the business activities.
The LCCI President informed the visiting delegation that the Lahore Chamber had already appealed to the government for the simplification of taxation procedures and expansion in the tax net. He said that business community believes that Pakistani merchandise were best of the best in the world but fast losing their due place in the international market because of high input cost in Pakistan. Proposals would also be incorporated in the LCCI recommendations as to how costs could be curtailed in Pakistan without any loss to the revenue.
Engineer Sohail Lashari said that the Governor State Bank of Pakistan would be urged to bring down the rate of markup to ensure availability of cheaper liquidity to the industry as it would not only help cut fast going up graph of unemployment but would also give needed boost to the manufacturing sector.
Earlier, the Chairman of the Ferozepur Road Welfare Organization Riaz Ahmad Sheikh briefed the LCCI President about the problems being faced by the area industrialists. He said that the Ferozepur Road industrial area was contributing a huge amount to the national exchequer but their problems are not being resolved.
For more information, contact:
Lahore Chamber of Commerce and Industry (LCCI)
Lahore -54000, Pakistan
Tel: +9242 111 222 499
Fax: +92 42 636 8854