The Lahore Chamber of Commerce and Industry (LCCI) urged the government to establish a dedicated department to facilitate exporters who intend to do business with the EU countries so that maximum benefit of GSP Plus status could be availed. Acting President Lahore Chamber of Commerce and Industry (LCCI) Mian Tariq Misbah stated this while addressing a 98-member National Defence University delegation led by Brigadier Jamil Masood.
Vice President Saarc Chamber of Commerce and Industry Iftikhar Ali Malik and other Executive Committee members were also present on the occasion. Issues like MFN status to India, regional trade, low tax-to-GDP ratio, EU GSP Plus status to Pakistan, Hilal meat export potential and utilisation of available mineral resources came under detailed discussion during the meeting.
He said Pakistan was going to get benefit of around dollar two billion through GSP Plus status by the European Union and that is a healthy sign for the economy of the country. He said the GSP Plus status would also open doors of many other virgin markets to Pakistani businessmen.
Under-utilisation of available resources and shortage of skilled manpower are among the major reasons of low economic performance, he said and added that all the public and private sector institutions would have to work in unison to market Pakistan as a land of opportunities.
The LCCI Acting President also stressed the need for strengthening of institutions and consistency in policies to achieve economic stability, progress and prosperity. He said no country could ever achieve its aims and objectives until and unless it has a strong system backed by strong institutions as weak institutions bound to expose a country to all types of problems including economic and social.
About low tax-to GDP ratio, he said the LCCI proposed to the government to make a downward revision in tax tariff to encourage the Sales Tax registration new and small businesses. He said although the government had already launched programme to simplify taxation procedures even then it would have to expedite to process in the larger interests of the economy.
About LCCI role to tap Hilal meat potential, Mian Tariq Misbah said the Lahore Chamber already conducted three conferences in this issue of vital importance. He said the objective of holding conferences was to create awareness about this marvellous opportunity. Lahore Chamber is playing its due role for promotion of trade and industry in the country due to an excellent liaison with both the Provincial and Federal Governments, he said.
He said the LCCI has more than 100 sector-specific Standing Committees. These committees collect private sector feedback, analyze and after a thorough debate it is forwarded to the concerned government departments for consideration at the time of preparation of the Federal Budget.
He said Chamber monitors the budget, anomalies are identified and these coupled with revised proposals are again communicated to the relevant policy-making departments, adding the LCCI also keeps liaison with the commercial sections of the Foreign Missions and an exchange of information is ensured.
Speaking on the occasion, Vice President Saarc CCI Iftikhar Ali Malik said sectoral studies were being conducted by the private sector to come up with a final decision on MFN status to India. He also called for early removal of NTBs to ensure level-playing field to Pakistani businessmen.
Iftikhar Ali Malik said Pakistan would remain a darling of the regional countries due to its strategic location and marvellous resources. "Pakistan would continue to hold the charisma because it is not only a gateway to landlocked Central Asian States but also its brainy manpower has no match in the world."
Brigadier Jamil Masood, while appreciating the LCCI role in keeping the country's economy on right track, said it is the private sector which plays a decisive role for the economic boost of any country. He said LCCI is doing a real service by projecting a positive image of the economy of the country.
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