Ongoing economic scenario calls for further strengthening of public-private sector relations and the Lahore Chamber of Commerce & Industry aims to promote trade & investment in the country through enacting upon the policies of the government and securing a business friendly environment in the country.
The LCCI President Ijaz A. Mumtaz stated this while addressing a delegation of National Security Workshop, National Defence University, led by Major General Noel I. Khokhar, here at the LCCI on Tuesday. Former Chairman WAPDA Tariq Hameed, former LCCI President Mian Muzaffar Ali and Executive Committee Members were also present on the occasion.
The delegation discussed issues including trade with India, shortage of energy; public-private sectors relations, budget- deficit and millennium development goals. The LCCI President said that the Lahore Chamber of Commerce and Industry also tries to secure a business-friendly environment through sharing views with the government. The primary objective of LCCI is to protect the interests of the business community while remaining committed to the cause of development of the country.
He said that there are a number of issues that must be tackled on priority basis the biggest one is how to keep the momentum of growth in the wake of a less than targeted growth of the agriculture and the manufacturing sector. The second one is the widening gap between exports and imports that could be contained by reducing import of luxury items.
Ijaz A. Mumtaz said that the cut in the prices of energy would make Pakistani products competitive in the international market where Pakistan was losing the international markets to China, India and even Bangladesh. He stressed the need for developing regional, product specific and target oriented marketing strategy. New markets and new products need to be explored to reduce country's dependence on few commodities and countries. Pakistan's exports are highly concentrated in few items. Such concentration in few markets can also become a source for instability in export earnings.
He briefed the participants about the LCCI's role in policy making and said that LCCI has also established a Mediation Center in collaboration with IFC. He said that there are more than 40 accredited Mediators registered with LCCI who are helping the businessmen for out of the country settlement of their business disputes. He said that the LCCI is also quite conscious of its social role. After the disaster of floods, the LCCI donated huge amount to the Chief Minister Punjab Flood Relief Fund.
He said that the LCCI has a self-sustaining project LABARD on its credit. He said that LABARD is not only acting as placement body for the disabled sections of the society but also provides relevant training to the young minds in an effort to rehabilitate them.
The delegation head Major General Noel I. Khokhar, H.I. (M), Director General Institute for Strategic Studies urged the Lahore Chamber of Commerce and Industry to continue to play its role for surmounting the unprecedented challenges being faced by the country as its positive input at this point in time can do the miracles. He also called for the exploration of non-traditional markets to generate much-needed foreign exchange. He said that the economy has become the most modern warfare gadget of the present day world and the only economically strong countries would have a role in coming days.
While lauding the role being played by the Lahore Chamber of Commerce and Industry in removing the bottlenecks in the way of promotion of business, he said that a lot has yet to be done for the economic well-being of the country and its people.
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