LAHORE: Lahore Chamber of Commerce and Industry (LCCI) President Malik Tahir Javed, for the first time in the LCCI history, has given task of preparing sector-specific research/ market reports and compilation of data bank to newly constituted standing committees of the Lahore chamber.
Speaking at the appointment letters awarding ceremony here Saturday, he said that the standing committees would have to work in full swing as country was passing through a challenging economic era.
LCCI Senior Vice President Khawaja Khawar Rasheed, Mian Shafqat Ali, Chaudhry Zafar Iqbal, Engineer Sohail Lashari, Abdul Basit, Amjad Ali Jawa, Aftab Ahmed Vohra, Nasir Hameed Khan and Executive Committee Members were also present.
Malik Tahir Javed said that the LCCI standing committees consisted of brainy and experienced businessmen having abilities to draw a good revival plan for national economy. He said that dwindling exports, reducing foreign exchange reserves, high cost of doing business, low tax-to-GDA ratio, stagnant growth of manufacturing sector, deteriorating state of affairs of the public sector entities (PSEs) and trade deficit were the key challenges for country’s economy but these could be tackled through joint efforts of the government and private sector.
He added that business community always wanted to do something good for the country; therefore, the government should give due weightage to their point of view, address their genuine reservations and remove unnecessary laws, rules and regulations hindering trade and industrial process.
The LCCI president advised the newly appointed conveners of the Chamber’s Standing Committees to focus on the areas of growth through innovation, strategic economic reforms, brain-drain, water scarcity, power generation and hunt for new destinations for Pakistani goods. He said that all of economic ideas from the standing committees would be developed as suggestions/reports and would be forwarded to government departments concerned.
He said that an extra care had been taken while appointing the conveners of the LCCI Standing Committees as on basis of the feedback of these sector specialists, the Lahore Chamber would formulate a set of proposal for government for economic revival. He said that Lahore Chamber of Commerce and Industry, this time, would forward to the government a possible way out of the ongoing economic mire. He said, the business community could yield better results if stakeholders were consulted in formulation of policies.