LCCI new bosses target economic challenges

Lahore, September 30, 2016 (PPI-OT): New bosses of the Lahore Chamber of Commerce and Industry Friday assumed the charges of their offices with an aim to approach top notch of the country, ministries and bureaucracy for early solution of the issues being faced by the business community besides making the LCCI role more effective and meaningful.

The LCCI newly elected President Abdul Basit, Senior Vice President Amjad Ali Jawa and Vice President Nasir Hameed defined their priorities at the Annual General Meeting (AGM) of the Lahore Chamber of Commerce and Industry. On the occasion formal results of the LCCI elections 2016-17 were also announced by the Election Commissioner Farooq Iftikhar.

The LCCI outgoing Senior Vice President Almas Hyder, Vice President Nasir Saeed, former office-bearers Bashir A. Buksh, Mian Muhammad Ashraf, Mian Anjum Nisar, Iftikhar Ali Malik, Syed Mohsin Raza Bukhari, Shahzad Ali Malik, Shahid Hassan Sheikh Muhammad Ali Mian, Sohail Lashari, Ijaz A. Mumtaz, Tahir Javed Malik, Irfan Iqbal Sheikh, Aftab Ahmed Vohra, Mubasher Sheikh, Shafqat Saeed Piracha, Abuzar Shad, Tariq Misbah, Syed Mahmood Ghaznavi and a large number of representatives of trade and industry Associations were present on the occasion.

The LCCI President Abdul Basit, Senior Vice President Amjad Ali Jawa and Vice President Nasir Hameed said that though the sectors of the construction of new water reservoirs, Kalabagh Dam, Export promotion, reduction of trade deficit, increase in power generation, smuggling and agriculture will be focused but the struggle will be started from the issues like misuse of the discretionary powers of the government officials, raids at business premises, bank account attachment, withholding tax, heavy increase in the valuation of many products and cumbersome taxation system.

The LCCI office-bearers said that Federal Finance Minister, Chairman Federal Board of Revenue, Director General Valuation and other departments will be contacted in this regard.

They said that government will be urged to spend a sufficient part of development budget on the markets where traders are working in the difficult circumstances despite giving huge revenue to the government.

They said that Pakistan, like other developing countries of the region, is facing a daunting task to meet its growing energy demand that is likely to double in the next few years. They said that government has to explore and exploit its all resources to match growing energy demand of domestic, manufacturing and agriculture sectors.

While stressing the need for political stability, LCCI newly elected office-bearers said that that politicians should understand well that political stability is must for rapid economic growth. They said that politics of agitation are badly affecting business environment and dragging national economy towards the destruction. They said that country is already passing through a critical time of history and facing various internal and external challenges. Keeping in view the ground realities, heads of political parties should play a constructive role in the larger interest of the country.

They said that the Lahore Chamber will explore new markets for the Pakistani merchandise to enhance the national exports. They said that government and private sector would have to act together to get rid of the issue of stagnant exports.

They said that the LCCI would convince the government to start work on new water reservoirs in general and Kalabagh dam in particular on war footing to overcome the water and energy shortage.

“Kalabagh dam and other reservoirs would not only be generating economical electricity but meeting our irrigation needs and above all would be instrumental in controlling floods. We will attempt to convince the government to simultaneously start work on two to three reservoirs”, they added.

They said that LCCI this year would prepare budget proposals in consultation with economic experts and business community leaders with an objective to ensure maximum allocations for various sectors of the economy.

They said that the main objective of the Lahore Chamber of Commerce and Industry is the promotion of trade and industry and all available resources would be utilized for economic turnaround as the economic meltdown had now started taking its toll and everybody in suffering badly.

They said that Research and Development is an area which if was given proper attention could do miracles. They said that they would, in collaboration with his fellow businessmen, work for the promotion of Research culture in Pakistan.

They said that Lahore Chamber of Commerce would also raise its voice for construction of parking plazas in the City as almost all the City traffic related problems were because of non-availability of proper parking space.

Earlier, the LCCI outgoing Senior Vice President Almas Hyder and Vice President Nasir Saeed presented the one year performance and Election Commission announced the formal results.

For more information, contact:
Shahid Khalil
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
Lahore -54000, Pakistan
Tel: +92-42-111-222-499
Fax: +92-42-36368854