Addressing challenges: LCCI demands private sector’s role in policymaking processes

LAHORE: The Lahore Chamber of Commerce and Industry has demanded private sector’s inclusion in policy-making, representation in boards and standing committees of the Senate and National Assembly to address Pakistan’s economic challenges and unlock sustainable growth.

“As the backbone of the economy, the private sector brings innovation, efficiency, and practical insights that are essential for crafting effective economic policies”, said President of the Lahore Chamber of Commerce and Industry Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman and Vice President Shahid Nazir Chaudhry said in a statement.

They said that no one could deny the importance of collaboration between the government and private sector stakeholders. The inclusion of the private sector in policy-making is not just a recommendation; it is a necessity.

The private sector understands the ground realities of business, investment, and market dynamics. Their input can help shape policies that are pragmatic, forward-looking, and aligned with the needs of the economy.

The LCCI office-bearers said that involving private sector representatives in key decision-making forums will lead to policies that foster a conducive business environment, attract foreign investment, and stimulate job creation. They also stressed the need for regular consultations between policymakers and industry leaders to ensure that economic strategies are responsive to emerging challenges and opportunities.

They added that the key areas where private sector involvement can make a significant impact include Tax Reforms, Trade Policies, Ease of Doing Business and Industrial Growth.

They said that it would simplifying tax structures and reducing compliance burdens to encourage formalization and growth of businesses, would developing export-oriented strategies to enhance Pakistan’s competitiveness in global markets, streamline regulatory processes to attract both local and foreign investors and promote sector-specific policies to boost manufacturing, agriculture, and technology-driven industries.

Mian Abuzar Shad, Engineer Khalid Usman and Shahid Nazir Chaudhry also called for the establishment of a permanent consultative mechanism between the government and private sector stakeholders to ensure continuous dialogue and collaboration.

They said that a collaborative approach will not only address immediate economic issues but also lay the foundation for long-term prosperity.

The LCCI office-bearers said that the Lahore Chamber of Commerce and Industry is committed to work closely with the government and other stakeholders to drive economic development and create a brighter future for Pakistan.

Copyright Business Recorder, 2025