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Technological advancement and innovation key to business success: Nasir Saeed

Lahore, March 11, 2016 (PPI-OT): Technological advancement is a key of success for the business as not only it opens new avenue for progress and prosperity but also provides a chance to the business community to avail the global opportunities with ease. These views were expressed by the LCCI Vice President Nasir Saeed while addressing the inauguration ceremony of ATS latest machinery display centre here at Badami Bagh.

Chairman PASPIDA Abul Hameed, Vice Chairman Mian Ibrar Hussain, the LCCI Executive Committee Members Mian Zahid Javed, Abdul Razaq, Waqar Ahmed Mian, CEO ATS Amjad Wazir, Khalid Wazir, Sohail Imtiaz Butt, Faisal Imtiaz, Zeeshan Khalil and others were present on the occasion.

The LCCI Vice President said that Pakistani entrepreneurs should focus on innovation as it is one of the proven tool to win the global market. It is a good omen that business community is diverting its attention towards modern technology and shifting their business operations on latest techniques.

He said that only market and product diversification can help us to make our way in the global market therefore government and private sector should focus this area though jointly evolved strategy. Nasir Saeed said that it is a matter of concern that we are still struggling to achieve the export target of $ 25 billion despite having all resources to move forward while those countries are far ahead of us which were following our economic role model in the past.

LCCI President said that Pakistan’s exports base is extremely limited and concentrated in five products namely cotton, leather, rice, synthetic and textile. He said that more than 60% exports earnings are contributed by the textile industry while 15% of total exports contributed by leather, synthetic made ups and rice.

Nasir Saeed said that business community is the backbone of the economy as more than 90% revenue is being generated through trade and 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.

He informed the participants that during their meetings with a number of trade and industrial associations, they came across quite a few issues that could be resolved only through facilitation to the business community. He said that problems like traffic mess, encroachments, infrastructure development and law and order need to be tackled on urgent basis as these are hampering the business activities.

The LCCI Vice President said that the Lahore Chamber had already appealed to the government for the simplification of taxation procedures and expansion in the tax net. Nasir Saeed urged the traders to prepare and submit their properly worked-out proposals to LCCI as Federal Board of Revenue had already started budget making exercise.

He stressed upon leading businessmen specifically to share their issues with the LCCI so competent authorities might be convinced to provide required relief. Lahore Chamber always forwards budget proposals of its members to federal and Punjab governments with an objective to create an enabling business atmosphere in country.

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

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