LAHORE: The Lahore Chamber of Commerce & Industry on Wednesday hailed the government for posing trust on the leading trade body of the country and giving representation to the LCCI in the Anomaly Committee for the Federal Budget 2022-23.

In a statement, President of the Lahore Chamber of Commerce & Industry Mian Nauman Kabir, Senior Vice President Mian Rehman Aziz Chan and Vice President Haris Ateeq said that the LCCI will have a thorough consultation and will present analysis of the reservations of the business community on Federal Budget 2022-23 to the Anomaly Committee for an early resolution of the issues.

While citing the example, they said that around 30 per cent regulatory duty has been imposed on various raw materials in the federal budget that will not only give a rise to the cost of doing business but will also promote smuggling and under invoicing. They said that the Lahore Chamber of Commerce & Industry will recommend to the Anomaly Committee for the Federal Budget 2022-23 that the regulatory duties imposed on various important raw materials should be withdrawn.

Copyright Business Recorder, 2022