"Lahore Chamber of Commerce and Industry is going to establish more than 100 sector-specific standing committees which would collect private sector feedback, analyse and filter the same through experts." LCCI President Abdul Basit stated this while talking to the delegations of various markets including Anjuman-e-Tajran, Plastic Market and Madina Electric Markets on Thursday. The meeting also called for exploration of non-traditional markets to generate much-needed foreign exchange.
LCCI president stressed the need for developing regional, product-specific and target-oriented marketing strategy. New markets and new products need to be explored to reduce the country's dependence on few commodities and countries, he added. He urged the Federal Board of Revenue (FBR) to stop practices like bank account attachment as it is not only creating harassment among the businessmen but also hampering economic activities.
The early solution of the issues of business community would promote the idea of public-private partnership that is the only way to surmount economic challenges being faced by the country, he said. "LCCI would continue its untiring efforts to promote trade and investment in the country by enacting the policies of the government and securing a business-friendly environment in the country. There are a number of issues that must be tackled on priority and 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 sectors," he added. He said lowering input cost would make Pakistani products competitive in the international market where Pakistan was losing the international markets to China, India and even Bangladesh.