Tag Archives: LCCI

Lahore Chamber of Commerce and Industry Achievement Awards 2018

Lahore, May 14, 2018 (PPI-OT): While acknowledging the role of business community for economic development of the country, Prime Minister Shahid Khaqan Abbasi has said that government is taking all possible measures to ensure business friendly environment in the country. He was speaking at the ceremony of “LCCI Achievement Awards – 2018”.

The LCCI President Malik Tahir Javaid, Senior Vice President Khawaja Khawar, Vice President Zeeshan Khalil, Federal Commerce Minister Pervez Malik, Federal Minister for Information Technology and Telecommunication Anusha Rehman, Federal Minister for Information and Broadcasting Mariam Aurangzeb, former LCCI office-bearers and Executive Committee Members were present on the occasion.

Prime Minister said that business community is the economic force of the country and its role is crucial for the progress and prosperity of the country and they should help the government to achieve the economic goals. He said that our Government is taking long-term, mid-term and short term measures to bring the economy back on the rail. The continuous support and co-operation extended by the business community have significantly improved the health of official revenues that gives me an immense satisfaction.

The LCCI President Malik Tahir Javaid, while highlighting the issues being faced by the business community, said that LCCI showed concerns over the decision of dissolving Engineering Development Board but it was done. He said that imposition of Regulatory Duties on such raw materials, which are not produced locally, affected the local industry which further resulted in decline in exports. He said that steel is a basic raw material of many industries and due to imposition of regulatory duty on it, the local industry has been driven out of competition. Industrial Support Package which was announced in 2016 was withdrawn in Federal Budget 2018-19.

The LCCI President said that if the private sector, which is the main stakeholder of the economy, was engaged in policy making then we could have played our role in formulating business friendly policies. “We look forward to be part of standing committees of National Assembly and Senate. Similarly, the leading Chambers of Commerce must be approached for caretaker political set-up. By way of engaging representatives of private sector, the government can ensure better and board-based implementation of policies”, Malik Tahir Javaid added.

He said that new markets and new products need to be explored to reduce country’s dependence on few commodities and countries. The leading export sectors of Pakistan have their own importance in terms of earning foreign exchange and employing a major chunk of indigenous resources but we cannot overlook these facts that the share of engineering products in total global trade is almost 60%. It is high time that we have to re-allocate our resources ad attention to engineering sector.

He said that agriculture is the worldwide baseline for food security and life security and it also provides national security. The agriculture sector of Pakistan supplies most of the raw material to industry in the form of food and cash crops. Lahore Chamber, keeping in view the importance of this sector took agriculture as a part of LCCI almost 10 years back. This sector needs more importance and concentration to be developed on world’s standard. Malik Tahir Javaid said that the global share of Halal Meat is around dollar 460 billion in which our share is negligible. We will have to give this sector top priority.

“We have been briefed about CPEC as a game changer project for Pakistan but we have to be aware of its flip side. We have serious concerns about acquisition of land by Chinese firm/nationals. The government must ensure that every one should have level playing field so that investors from other countries are also encouraged to consider Pakistan favourably”, the LCCI President said.

He said that another important area is unconstrained urbanization in major cities of Pakistan which is putting extra load on urban infrastructure/facilities. It has to be regulated and the government must provide basic facilities like education and health etc. in rural areas to cease this flow.

Earlier, Prime Minister Shahid Khaqan Abbasi distributed the Achievement Awards amongst the winners. Fawad Rana of Lahore Qalander received Pride of Lahore, Aqib Javed of Lahore Qalander received LCCI Gold Medal Appreciation Award, Qudratullah of Qudratullah and Co, Iftikhar Hussain of Ishtiaq Steel and Muhammad Afzal of Delta Packaging received LCCI Gold Medal, Shahzaib Akram of Mass Pharma, Qurat ul Ain Irfan of Pacific Pharmaceuticals, Dr. Sohail Mukhtar Ahmed of Ahmed Medix, Dr. Khalid Hameed of Tara Crop Sciences, Qais Rahman of Kalamkaar, Mian Muhammad Kaleem of Al-Tech Engineering and Manufacturers, Muhammad Shafiq of Bao Brother,Ahmad Irfan of Electro Tech Trading Co, Ahmad Shafiq of College of Tourism and Hotel Management, Irshad Ahmad Siddiqui of Ravi Advertising and Siddique Rehan of Commercial Carriers received Businessmen Achievement Award, Dr. Waqas Wahab of Clearpath Orthodontics received Emerging Enterprises, Riffat un Nisa of Khyam Publisers and Bushra Ruba of Door of Awareness received Women Entrepreneur of the Year, Mumtaz Khan Manais of Punjab Agriculture and Meat Company and Mian Shaukat Ali of Yuksel Seeds Asia received Professional Service Award.

For more information, contact:
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
11-Shahrah-e-Aiwan-e-Tijarat,
Lahore -54000, Pakistan
Tel: +92-42-111-222-499
Fax: +92-42-36368854
Website: www.lcci.org.pk

Lahore Chamber of Commerce and Industry Achievement Awards 2018

Lahore, May 14, 2018 (PPI-OT): While acknowledging the role of business community for economic development of the country, Prime Minister Shahid Khaqan Abbasi has said that government is taking all possible measures to ensure business friendly environment in the country. He was speaking at the ceremony of “LCCI Achievement Awards – 2018”.

The LCCI President Malik Tahir Javaid, Senior Vice President Khawaja Khawar, Vice President Zeeshan Khalil, Federal Commerce Minister Pervez Malik, Federal Minister for Information Technology and Telecommunication Anusha Rehman, Federal Minister for Information and Broadcasting Mariam Aurangzeb, former LCCI office-bearers and Executive Committee Members were present on the occasion.

Prime Minister said that business community is the economic force of the country and its role is crucial for the progress and prosperity of the country and they should help the government to achieve the economic goals. He said that our Government is taking long-term, mid-term and short term measures to bring the economy back on the rail. The continuous support and co-operation extended by the business community have significantly improved the health of official revenues that gives me an immense satisfaction.

The LCCI President Malik Tahir Javaid, while highlighting the issues being faced by the business community, said that LCCI showed concerns over the decision of dissolving Engineering Development Board but it was done. He said that imposition of Regulatory Duties on such raw materials, which are not produced locally, affected the local industry which further resulted in decline in exports. He said that steel is a basic raw material of many industries and due to imposition of regulatory duty on it, the local industry has been driven out of competition. Industrial Support Package which was announced in 2016 was withdrawn in Federal Budget 2018-19.

The LCCI President said that if the private sector, which is the main stakeholder of the economy, was engaged in policy making then we could have played our role in formulating business friendly policies. “We look forward to be part of standing committees of National Assembly and Senate. Similarly, the leading Chambers of Commerce must be approached for caretaker political set-up. By way of engaging representatives of private sector, the government can ensure better and board-based implementation of policies”, Malik Tahir Javaid added.

He said that new markets and new products need to be explored to reduce country’s dependence on few commodities and countries. The leading export sectors of Pakistan have their own importance in terms of earning foreign exchange and employing a major chunk of indigenous resources but we cannot overlook these facts that the share of engineering products in total global trade is almost 60%. It is high time that we have to re-allocate our resources ad attention to engineering sector.

He said that agriculture is the worldwide baseline for food security and life security and it also provides national security. The agriculture sector of Pakistan supplies most of the raw material to industry in the form of food and cash crops. Lahore Chamber, keeping in view the importance of this sector took agriculture as a part of LCCI almost 10 years back. This sector needs more importance and concentration to be developed on world’s standard. Malik Tahir Javaid said that the global share of Halal Meat is around dollar 460 billion in which our share is negligible. We will have to give this sector top priority.

“We have been briefed about CPEC as a game changer project for Pakistan but we have to be aware of its flip side. We have serious concerns about acquisition of land by Chinese firm/nationals. The government must ensure that every one should have level playing field so that investors from other countries are also encouraged to consider Pakistan favourably”, the LCCI President said.

He said that another important area is unconstrained urbanization in major cities of Pakistan which is putting extra load on urban infrastructure/facilities. It has to be regulated and the government must provide basic facilities like education and health etc. in rural areas to cease this flow.

Earlier, Prime Minister Shahid Khaqan Abbasi distributed the Achievement Awards amongst the winners. Fawad Rana of Lahore Qalander received Pride of Lahore, Aqib Javed of Lahore Qalander received LCCI Gold Medal Appreciation Award, Qudratullah of Qudratullah and Co, Iftikhar Hussain of Ishtiaq Steel and Muhammad Afzal of Delta Packaging received LCCI Gold Medal, Shahzaib Akram of Mass Pharma, Qurat ul Ain Irfan of Pacific Pharmaceuticals, Dr. Sohail Mukhtar Ahmed of Ahmed Medix, Dr. Khalid Hameed of Tara Crop Sciences, Qais Rahman of Kalamkaar, Mian Muhammad Kaleem of Al-Tech Engineering and Manufacturers, Muhammad Shafiq of Bao Brother,Ahmad Irfan of Electro Tech Trading Co, Ahmad Shafiq of College of Tourism and Hotel Management, Irshad Ahmad Siddiqui of Ravi Advertising and Siddique Rehan of Commercial Carriers received Businessmen Achievement Award, Dr. Waqas Wahab of Clearpath Orthodontics received Emerging Enterprises, Riffat un Nisa of Khyam Publisers and Bushra Ruba of Door of Awareness received Women Entrepreneur of the Year, Mumtaz Khan Manais of Punjab Agriculture and Meat Company and Mian Shaukat Ali of Yuksel Seeds Asia received Professional Service Award.

For more information, contact:
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
11-Shahrah-e-Aiwan-e-Tijarat,
Lahore -54000, Pakistan
Tel: +92-42-111-222-499
Fax: +92-42-36368854
Website: www.lcci.org.pk

Lahore Chamber of Commerce and Industry perceives huge economic opportunities in era of new Malaysian Prime Minister

Lahore, May 11, 2018 (PPI-OT): The Lahore Chamber of Commerce and Industry, while extending warm greetings to Dr. Mahathir Mohamad for assuming the charge as Malaysia’s seventh Prime Minister, termed it a good news for Pakistani economy as well. “Credit of Malaysia’s economic development goes to Dr. Mahathir Mohamad who developed unparalleled economic policies and turned Malaysia into an economic power. New term of Dr. Mahathir Mohamad has paved way for another economic revolution and Pakistan needs to avail this valuable and enhance its exports to Malaysia”, said the LCCI President Malik Tahir Javaid, Senior Vice President Khawaja Khawar Rashid and Vice President Zeeshan Khalil in a statement.

The LCCI office-bearers said new era of economic development in Malaysia would create opportunities for Pakistani export-oriented industry that must be availed to the maximum as share of Pakistan in Malaysian imports of over $ 163.4 billion is meagre that can be enhanced through little efforts and Pakistani embassy in Malaysia can play an instrumental role in this regard.

They said that Pakistan and Malaysia have close and cordial relations since long and this relationship is growing and strengthening with the passage of time but this should be reflected in mutual trade and economic ties. They said that Pakistan’s major exports to Malaysia are cereal, textiles and clothing, rice, vegetables, seafood (fresh, chilled and frozen), chemical and chemical products whereas major imports from Malaysia are palm oil, chemical products, electrical and electronic products.

Other exports from Pakistan to Malaysia include fish, potatoes, onion, maize, cotton yarn, woven fabrics, synthetic staple fibre, bed-linen, electrical apparatus for line telephony and parts and accessories, whereas other imports from Malaysia arerubber, wood, synthetic filament yarn, insecticides, automatic data processing machines and parts and accessories but quantum of these exports is not satisfactory.

The LCCI office-bearers said that China, Singapore, Japan, USA, Thailand, South Korea and Indonesia are the major trade partners of Malaysia. It is a bit discouraging that Pakistan is not in this list despite good relations with Malaysia and having best-of-the-best products in the world. They suggested establishment of display center for Pakistani products in Pakistani embassies abroad to grab the attention of foreign buyers.

They said that the balance of trade has always been in favour of Malaysia and this situation is prevailing. Over the last five years this gap is constantly closing but still the total imports from Malaysia are six times of our exports to Malaysia. The LCCI office-bearers said that Malaysia and Pakistan have already signed a Free Trade Agreement which came into effect in January 2008. It has to be taken seriously that we have failed to take some advantage of this FTA.

It provided us good platform to be utilized for a win-win situation but Pakistan achieved far lesser than its potential. They said that the business community is trying its level best to make good use of FTA but there has to be some support provided by the Ministry of Commerce and especially commercial section of our High Commission in Malaysia. He said that we want to acquire some justifiable share in trade with Malaysia. There is a huge potential of exporting Pakistani rice, fresh fruits like citrus and mango to Malaysia.

They said that the FTA does provide our exporters certain edge in the form of duty relief on fruits and vegetables etc. but due to knowing little about the packaging and certain requirements related to certification of food items, they cannot make full utilization of these opportunities. They said that joint ventures in the fields of livestock and dairy, food processing, energy, chemicals, Halal products and especially in light engineering can further strengthen the trade ties between two countries. They said that we need to develop good liaison with our Mission in Malaysia in order to overcome all the challenges involved in enhancing exports to Malaysia.

For more information, contact:
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
11-Shahrah-e-Aiwan-e-Tijarat,
Lahore -54000, Pakistan
Tel: +92-42-111-222-499
Fax: +92-42-36368854
Website: www.lcci.org.pk

Lahore Chamber of Commerce and Industry perceives huge economic opportunities in era of new Malaysian Prime Minister

Lahore, May 11, 2018 (PPI-OT): The Lahore Chamber of Commerce and Industry, while extending warm greetings to Dr. Mahathir Mohamad for assuming the charge as Malaysia’s seventh Prime Minister, termed it a good news for Pakistani economy as well. “Credit of Malaysia’s economic development goes to Dr. Mahathir Mohamad who developed unparalleled economic policies and turned Malaysia into an economic power. New term of Dr. Mahathir Mohamad has paved way for another economic revolution and Pakistan needs to avail this valuable and enhance its exports to Malaysia”, said the LCCI President Malik Tahir Javaid, Senior Vice President Khawaja Khawar Rashid and Vice President Zeeshan Khalil in a statement.

The LCCI office-bearers said new era of economic development in Malaysia would create opportunities for Pakistani export-oriented industry that must be availed to the maximum as share of Pakistan in Malaysian imports of over $ 163.4 billion is meagre that can be enhanced through little efforts and Pakistani embassy in Malaysia can play an instrumental role in this regard.

They said that Pakistan and Malaysia have close and cordial relations since long and this relationship is growing and strengthening with the passage of time but this should be reflected in mutual trade and economic ties. They said that Pakistan’s major exports to Malaysia are cereal, textiles and clothing, rice, vegetables, seafood (fresh, chilled and frozen), chemical and chemical products whereas major imports from Malaysia are palm oil, chemical products, electrical and electronic products.

Other exports from Pakistan to Malaysia include fish, potatoes, onion, maize, cotton yarn, woven fabrics, synthetic staple fibre, bed-linen, electrical apparatus for line telephony and parts and accessories, whereas other imports from Malaysia arerubber, wood, synthetic filament yarn, insecticides, automatic data processing machines and parts and accessories but quantum of these exports is not satisfactory.

The LCCI office-bearers said that China, Singapore, Japan, USA, Thailand, South Korea and Indonesia are the major trade partners of Malaysia. It is a bit discouraging that Pakistan is not in this list despite good relations with Malaysia and having best-of-the-best products in the world. They suggested establishment of display center for Pakistani products in Pakistani embassies abroad to grab the attention of foreign buyers.

They said that the balance of trade has always been in favour of Malaysia and this situation is prevailing. Over the last five years this gap is constantly closing but still the total imports from Malaysia are six times of our exports to Malaysia. The LCCI office-bearers said that Malaysia and Pakistan have already signed a Free Trade Agreement which came into effect in January 2008. It has to be taken seriously that we have failed to take some advantage of this FTA.

It provided us good platform to be utilized for a win-win situation but Pakistan achieved far lesser than its potential. They said that the business community is trying its level best to make good use of FTA but there has to be some support provided by the Ministry of Commerce and especially commercial section of our High Commission in Malaysia. He said that we want to acquire some justifiable share in trade with Malaysia. There is a huge potential of exporting Pakistani rice, fresh fruits like citrus and mango to Malaysia.

They said that the FTA does provide our exporters certain edge in the form of duty relief on fruits and vegetables etc. but due to knowing little about the packaging and certain requirements related to certification of food items, they cannot make full utilization of these opportunities. They said that joint ventures in the fields of livestock and dairy, food processing, energy, chemicals, Halal products and especially in light engineering can further strengthen the trade ties between two countries. They said that we need to develop good liaison with our Mission in Malaysia in order to overcome all the challenges involved in enhancing exports to Malaysia.

For more information, contact:
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
11-Shahrah-e-Aiwan-e-Tijarat,
Lahore -54000, Pakistan
Tel: +92-42-111-222-499
Fax: +92-42-36368854
Website: www.lcci.org.pk

Lahore Chamber of Commerce and Industry urges government to put off the agreement for Electronic Date Exchange with China

Lahore, May 09, 2018 (PPI-OT): The Lahore Chamber of Commerce and Industry has urged the government to put off the agreement for Electronic Date Exchange (EDE) with China as it would do more harm than good. In a statement, the LCCI President Malik Tahir Javaid, Senior Vice President Khawaja Khawar Rashid and Vice President Zeeshan Khalil said that government has planned to establish Electronic Date Exchange system to capture the real value of imports from China.They feared that this system would affect the trade and industry and Pakistani economy would pay heavy cost.

The LCCI office-bearers said that over invoicing in China is common to get custom rebates and it is impossible to match trade data with China through Electronic Date Exchange system. They said that reportedly only around 60 percent of the imported goods from China are currently coming under the Free Trade Agreement and Electronic Date Exchange will cover only these goods while remaining would be out of its reach. They said that coverage to all imports from China would require changes in Chinese domestic laws which is a long process.

They said that government would have to find out some other solution to the issue of mis-declaration and under invoicing in consultation with the stakeholders. They said that if this system is imposed without keeping in view the ground realities, it would promote smuggling that is already causing huge loss to the national economy. Office-bearers of the Lahore Chamber of Commerce and Industry hoped that government would act wisely and would get feedback from the stakeholders regarding Electronic Date Exchange system.

For more information, contact:
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
11-Shahrah-e-Aiwan-e-Tijarat,
Lahore -54000, Pakistan
Tel: +92-42-111-222-499
Fax: +92-42-36368854
Website: www.lcci.org.pk

Lahore Chamber of Commerce and Industry urges government to address reservations of commercial importers

Lahore, May 04, 2018 (PPI-OT): The Lahore Chamber of Commerce and Industry has urged the government to address the reservations of commercial importers. In a statement, the LCCI President Malik Tahir Javaid, Senior Vice President Khawaja Khawar Rashid and Vice President Zeeshan Khalil said that the commercial importers were being treated under final tax regime and they were allowed audit exemption on the payment of 6 percent withholding tax.

This regime is replaced with minimum tax in the budget. Reassessment of raw material and opening of audit cases of commercial importers has also been proposed in the budget. They said that new proposals were injustice to commercial importers and the same would not be acceptable. They said that commercial importers are also feeding the local industries and their difficulties would also hit the industrial sector hard.

The LCCI office-bearers said that commercial importers import raw material for various sectors. “Bringing commercial importers into minimum tax regime will increase the cost of raw material,” they said and added that this will increase the cost of production for various sectors.

They appealed the prime minister and the finance minister to keep the final tax regime for commercial importers and reduce the withholding tax rate to four percent from 6 percent. Further, the tax rate difference between commercial and non-commercial importers should be removed in order to provide level playing field. They proposed that commercial importers should be brought into refund regime to make the things better.

For more information, contact:
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
11-Shahrah-e-Aiwan-e-Tijarat,
Lahore -54000, Pakistan
Tel: +92-42-111-222-499
Fax: +92-42-36368854
Website: www.lcci.org.pk