Chambers and associations urged to present joint proposals to maximise economic gains.
LAHORE – National Coordinator of the Special Investment Facilitation Council (SIFC) Lt General Sarfraz Ahmed visited the Lahore Chamber of Commerce and Industry on Saturday and interacted with the business community of Punjab.
LCCI President Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman, Vice President Shahid Nazir Chaudhry, SAARC Chamber Vice President Mian Anjum Nisar, former LCCI President Muhammad Ali Mian, Executive Committee members and prominent industrialists also participated in the event and shared thoughtful insights.
During his talk, Lt General Sarfraz Ahmed said that business community has always played a vital role in Pakistan’s economy and remained committed despite challenges, contributing to Pakistan’s economic growth. He said that economic conditions are improving fast. Highlighting key economic reforms, he stated that industrialization is a priority for the SIFC, which is going to introduce major reforms in Special Economic Zones (SEZs). He stressed the need for transparency in SEZ frameworks to ensure collective benefit. He appreciated the Minister for Power Awais Laghari for his untiring efforts in bringing down the electricity prices for industrial growth. Discussing human resource development, he shed light on Pakistan’s potential to earn significant foreign exchange through skilled labor exports and industrial growth. He urged chambers and associations to present joint proposals to maximize economic gains.
LCCI President Mian Abuzar Shad commended SIFC for steering the economy toward stability, recalling the volatility in the exchange rate, reduction in inflations and improving easing the cost of living for the public. He attributed this success to joint efforts by the country’s political and military leadership alongside the efforts of economic policymakers.
Senior Vice President Engineer Khalid Usman called to promote local investment alongside foreign direct investment (FDI). He further stressed that the Gross Domestic Investment (GDI) to GDP ratio needs further improvement with urgent need to boost domestic investments. Vice President Shahid Nazir Chaudhry appreciated SIFC’s efforts in boosting productivity and foreign investment in Pakistan’s key potential sectors like IT, energy, agriculture and mining.
SAARC Chamber Vice President Mian Anjum Nisar said that continued economic progress hinges on facilitating exporters and streamlining visa processes for businesspeople. He proposed that reducing electricity costs will also be a crucial step for enhancing global competitiveness. Former LCCI President Muhammad Ali Mian highlighted the export potential of Pakistan’s mineral sector and skilled workforce. He stressed the need for incentivizing overseas Pakistanis to increase remittances and suggested developing a comprehensive database to identify global workforce demand, aligning training programs accordingly.
