Lahore, May 03, 2016 (PPI-OT): Business friendly atmosphere and ease of doing business will highlight the image of Pakistan as an emerging economy therefore government should facilitate the business community to achieve the desired goals.
These views were expressed by the LCCI Vice President Nasir Saeed while speaking at a seminar on “Ease of Doing Business in Pakistan” here at the Lahore chamber of Commerce and amp; Industry on Tuesday. Secretary Board of Investment Azher Ali Chaudhry, Head of Prime Minister’s Delivery Unit Dr. Awais Siraj, LCCI Executive Committee Members Mian Abdul Razzaq, Mian Zahid Javed and Rizwan Akhter Shamsi also spoke on the occasion.
Nasir Saeed said that cost of doing business is one of the major hurdles hampering the growth of all sectors of economy whether it is manufacturing or agriculture. He said that Pakistani merchandise are best of the best in the world but fast losing their due place in the international market because of high input cost in Pakistan. He said that proposals would also be incorporated in the LCCI report on “Doing Business in Pakistan” as to how costs could be curtailed in Pakistan without any loss to the revenue.
He said that said that the Lahore Chamber of Commerce and amp; Industry had already started spade work to this regard and fast holding meetings with trade and industrial associations to gather the challenges being faced by them and their impact on economic activities. He said that very objective of the LCCI initiative is to give helping hand to the government to expedite economic uplift of the country. He said that the report would be prepared after due consultation of the economists, technocrats and experts.
The LCCI Vice President invited the attention of the government towards depleting water resources that could put the country’s growth on stake in the coming years. He said that government should focus on water and energy issues on priority basis and allocate as much as possible funds for water reservoirs to ensure water availability for the agriculture sector and to generate cheap hydel power.
He said that all sectors of economy would be covered in the LCCI report on “Doing Business in Pakistan”. He said that report would be presented to the Prime Minister and the government departments for evolving an action plan.
The LCCI Vice President said that business community is the backbone of the economy as more than 90% revenue is being generated through trade and amp; industry. Therefore, the businessmen should be given due facilitation and for the purpose the LCCI would continue to play its role proactively.
He said that Federal Board of Revenue would not be able to achieve its revenue target without providing a business friendly atmosphere to the business doing people.
The LCCI office-bearers said that during their meetings with a number of trade and industry associations, they came across quite a few issues that could be resolved only through facilitation to the business community.
They said that the Lahore Chamber had already appealed to the government for the simplification of taxation procedures and expansion in the tax net.
Secretary Board of Investment Azher Ali Chaudhry highlighted the efforts of BOI for the promotion of foreign investment in Pakistan. He said that the Board of Investment (BOI) is Pakistan’s premier investment promotion body, responsible for attracting, facilitating and promoting both local and foreign investment in Pakistan. Despite the downturn in the global economy, Pakistan has experienced the return of foreign investment, structural reforms implementation, improvement in the overall fiscal and monetary situation.
For more information, contact:
Lahore Chamber of Commerce and Industry (LCCI)
Lahore -54000, Pakistan