LAHORE:Kashif Anwar has successfully completed his first year as the president of Lahore Chamber of Commerce and Industry (LCCI) and pledged to continue his efforts for the cause of trade, industry and economy in the remaining period of his two-year term.
In a media statement issued here Saturday, Kashif Anwar termed his meeting with Chief of Army Staff, the most important event during his first year, saying that the economic outcomes were unbelievable as dollar flight arrested immediately and stock market witnessed a great boom.
Giving a summarized overview of his performance during the year, he said that US Ambassador visited LCCI after a long time. A crucial meeting with the Indian Deputy High Commissioner was also held at LCCI. Besides this, Ambassadors, High Commissioners and trade delegations of various countries including European Union, China, Belgium, Iran, Tunis, Kazakhstan, Tajikistan, Azerbaijan, Turkey, Vietnam, Indonesia, UK also visited LCCI to have detailed deliberations on mutual trade and economic ties. He said that he had more than one meetings with President of Pakistan Dr. Arif Alvi, then Prime Minister Shahbaz Sharif, Governor Punjab Muhammad Baligh ur Rehman, Caretaker Chief Minister Punjab Syed Mohsin Naqvi, Federal Finance and other ministers, Chairman FBR and other top authorities. He said that NEPRA Chief, SNGPL GM, Commissioner Lahore and various other authorities were also invited at LCCI to discuss the issues being faced by the business community.
Kashif Anwar said that LCCI had inked MoUs with various hospitals, labs, colleges and universities to secure modern facilities for LCCI members and staff on concessional rates. He said that Lahore Chamber also held Export Trophy, IT Awards and Ambassadors Dinner successfully. LCCI also organized Seerat un Nabi Conference and ASEAN Conference.
While giving a recipe for economic revival of the country and his goals for the next year, LCCI President said that the Charter of Economy would be one of our top priorities as it is the only solution to economic challenges. He said that every patriot Pakistani should pay his due taxes and get into the tax net. Since assuming as LCCI President, he has been actively working to expand the tax base by engaging every association and individual who visits LCCI.
President LCCI said, “Expansion of the tax base would remain elusive as long as the grey economy remains unincorporated, unable to contribute to the formal, white economy. We hope that in near future the issues like rate of inflation, devaluation, interest rate and cost of doing business will get resolved.”
He said that the remittances have decreased by US $ 04 billion in the last year. Many problems are caused by devaluation. FDI (Foreign Direct Investment) is not coming into the country due to high cost of doing business. “We want to increase exports but the priority should be to reduce imports and that will be through industrialization and import substitution. There is a problem with MDI fixed charges which should be resolved. Regulatory duties and customs duties should be abolished on raw materials not being manufactured in Pakistan. Similarly, the interest rate is 22 percent and if it decreases, the business cost will decrease,” he mentioned.
He said that solar and alternative energy should be made mandatory for houses of over one kanal of area, besides starting work on water reservoirs and dams, especially Kalabagh Dam, to avoid floods. He suggested that loss-making state owned enterprises should be privatized, adding that SMEs should be promoted and be given easy access to loans.
He called for taking effective steps to regulate the undeclared money and to restore confidence of overseas Pakistanis. He said that government’s work on climate change is commendable.