LAHORE: The business community has lauded the Lahore Chamber of Commerce and Industry (LCCI) for its decisive leadership and unwavering commitment that led to the deferment of the controversial affidavit condition imposed on Chief Financial Officers by the Federal Board of Revenue (FBR).

In a momentous decision, the FBR has rescinded the requirement that CFOs provide affidavits to guarantee compliance across their entire supply chain—a move that many in the business sector deemed unreasonable and unfeasible. LCCI President Mian Abuzar Shad’s relentless advocacy and representation of industry concerns were instrumental in this pivotal change.

Business leaders from various sectors expressed their gratitude, emphasising the profound impact of this development on operational efficiency and the overall business climate in Pakistan.

Former FPCCI Chief Mian Anjum Nisar, former LCCI president Muhammad Ali Mian and former Senior Vice President Ali Hussam Asghar praised Mian Abuzar Shad for standing firm against onerous regulations that hindered growth and innovation.

They said that LCCI President had demonstrated exceptional leadership by amplifying our voices and pushing for pragmatic solutions. His efforts in negotiating with the FBR have not only alleviated a significant burden on CFOs but also reaffirmed the LCCI’s role as a vital advocate for the business community.

Khawaja Shahzeb Akram, Tahir Manzoor Chaudhry, Babar Mahmood, Yousaf Shah, Imran Asghar and trade leaders also welcomed the untiring efforts of the Lahore Chamber of Commerce and Industry.

The LCCI President, in response to the accolades, expressed his gratitude to the business community for their support and solidarity. “This achievement is a testament to our collective strength. We will continue to advocate for policies that foster a conducive environment for business growth and economic development,” he added.

Copyright Business Recorder, 2024