'LCCI ready to give required boost to economic activities'

The LCCI President Ejaz A Mumtaz in a statement on Wednesday said that the chamber is ready to give required boost to economic activities that are a prerequisite to expedite local investment and attract foreign investors. He said that institutional fragility and the political instability are the major factors to keep the foreign investors away.
He called for devising a comprehensive strategy to overcome with low local and foreign investment. "There is a dire need to promote economic vitality by strengthening private sector as internal dynamism has faded away due to acute energy shortage, deteriorating law and order and political instability", he added.
The LCCI president said that rising risk perception about investing into Pakistan is hitting hard the entire economy and needs to be tackled through a new policy approach by involving all chambers in the country. He said that a special committee comprising members of the Parliament, presidents of Chambers of Commerce and Industry and representatives of sector-specific Associations should be formed to identify the solutions to attract foreign investment. He said that the proposed committee should also be tasked to look into the existing policy framework and if there is a need to redesign it the committee should immediately initiate work.