LAHORE:
The Lahore Chamber of Commerce and Industry has expressed deep concern over the increasing number of raids on business premises by the Employees Old Age Benefit Institution (EOBI) and termed them a direct threat to economic stability, investor confidence and the overall business environment.
In a statement, LCCI President Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman, and Vice President Shahid Nazir Chaudhry urged the authorities to put an immediate halt to such coercive measures that are causing anxiety and distress among traders and industrialists.
The LCCI office-bearers said that businesses are the backbone of the economy and their harassment through surprise raids and unjustified inspections sends a negative signal to both local and foreign investors. The business community is already facing immense challenges due to inflation, high energy costs and economic instability. Instead of facilitating businesses, subjecting them to unnecessary raids and intimidation will further damage the fragile economic landscape. If traders and industrialists are not provided a secure and supportive environment, economic revival will remain a distant dream.
They further added that respect for businesses and industrialists is crucial for economic growth and such heavy-handed tactics will only result in a loss of trust between the government and the business community. They demanded an immediate review of these actions and called for transparent policies that ensure businesses are treated with dignity and fairness. They said that raids disrupt normal business operations, discourage entrepreneurship and create a hostile economic environment. “Business premises should not be treated as crime scenes.”
