LAHORE:New office-bearers of the Lahore Chamber of Commerce & Industry (LCCI) here on Friday assumed the charge with a commitment to work for the cause of trade, industry, economy and the business community.
Speaking at the LCCI Annual General Meeting, the newly elected President Kashif Anwar, Senior Vice President Chaudhry Zafar Mahmood and Vice President Adnan Khalid Butt highlighted their priorities during upcoming tenure.
The meeting was presided over by the Election Commission Almas Hyder and also attended by former LCCI office-bearers, Executive Committee members and business leaders.
Newly elected President Kashif Anwar declared his term as Business Compliance and Facilitation Year and pledged to act as a bridge between the business community, Punjab Revenue Authority, Federal Tax Ombudsman, Social Security, Employees Old Age Benefit Institution and other government departments.
He appealed to the business community to perform their national obligation by filing tax return. “The Lahore Chamber of Commerce & Industry will take special measures to encourage non-filers to come into the tax net,” Kashif Anwar added.
He said, Lahore Chamber would leave no stone unturned to resolve the issues being faced by the trade, industry and economy.
He said that economy had yet to recover fully from COVID-19 effects and now the country faced another blow in the shape of floods. He said that more than 1500 people had lost their lives, standing crops over millions of acres of land were destroyed, cattle were washed away and still more than 30 million people were sitting under the open sky.
Kashif Anwar apprehended that country might face yet another challenge as the crops of wheat, rice, vegetables, fruits and cotton had been destroyed and it would have to import these commodities. He said that huge foreign exchange was required for the import of these commodities.
He added that there had been widespread damage to the infrastructure across the country. Although it was being estimated that the floods would cost US $ 30 billion to the economy but the actual damage would be much more than that. He said that government and the private sector would have to join hands for the rehabilitation of flood affectees.
He appealed to the federal and provincial governments to start work on dams and water reservoirs without wasting any more time. He said that annually, the country wasted water worth billions of dollars to the sea. “If we have dams and water reservoirs, that water can be used for cheap power generation and for the development of agriculture sector”, Kashif Anwar said and added that there was a deep connection between agriculture and economic development.
The LCCI newly-elected President was of the opinion that if the problems of business community were resolved, the problems of the national economy would be resolved automatically.
He said that business community was facing many problems like high markup rate, rupee devaluation, high tariff of electricity, petrol and gas, high cost of production, delay in releasing consignments of the traders under chapter 84-85, demurrage, detention and late payment charges, requirement of 100 percent cash margin on raw materials, Customs Duty, Regulatory Duty etc. He said that the Lahore Chamber would raise the voice on these issues and not only would urge the government to resolve these issues immediately but also present concrete and workable suggestion to it.
Kashif Anwar said that major part of the business community was working in the markets and facing issues like lack of infrastructure etc. Early resolution of these issues would also be his top priority.
Newly-elected Senior Vice President Chaudhry Zafar Mahmood said that traders, working in the markets of Lahore, were playing a silent role for economic revival of the country. He said that LCCI would make all out efforts to resolve the issues being faced by the traders including lack of infrastructure.
Newly-elected Vice President Adnan Khalid Butt said that the banks were charging Rs. 10 to 20 extra from the interbank rate to release the shipment documents which was injustice. This issue would be taken up with the State Bank of Pakistan.
He said that all the concerned departments would be requested to recognize the Kahna Kacha, Daroghawala and Sheikhupura etc as industrial estates to encourage the business community. He said that one window operation at the Lahore Chamber be made more active.
Outgoing President Mian Nauman Kabir, Senior Vice President Mian Rehman Aziz Chan and Vice President Haris Ateeq presented a detailed report of their performance during the year.
Earlier, the Election Commission formally announced the names of the new office-bearers and Executive Committee members.