By Our Correspondent
LAHORE – Chairman Senate Syed Yousuf Raza Gilani has agreed with LCCI leadership that political stability is the cornerstone of economic progress and prosperity.
LCCI President Mian Abuzar Shad delivered the opening speech while Senior Vice President Engineer Khalid Usman, Vice President Shahid Nazir Chaudhry, Executive Committee Members, former Senior Vice Presidents Ali Hussam Asghar and others also spoke on the occasion.
Syed Yousuf Raza Gilani urged the LCCI leadership to establish robust connections with the political parties. He promised to arrange direct meetings with the heads of Senate Standing Committees and federal ministers.
He said that business growth, shining prospects for commerce and economic development are matters close to my heart. As Prime Minister, he focused on industry, trade and economic advancement. He called for collaborative efforts to address challenges and seize opportunities.
The Chairman Senate said that a public-private partnership is important in achieving economic development. He underscored the need for policies that promote manufacturing, value addition, innovation and renewable energy. “Hydropower is the best option for affordable and environmentally friendly energy,” he said, adding that agriculture must also remain a top priority”, he added.
Syed Yousaf Raza Gillani stressed the importance of increasing agricultural productivity, addressing issues such as adulteration in seeds and pesticides and ensuring the availability of quality inputs.
“Everyone must pay taxes”, he said and called for reforms to ensure fairness and transparency in the taxation system.
Syed Yousaf Raza Gillani supported LCCI’s proposals to restructure or privatize loss-making state-owned enterprises, such as Pakistan Post Office, Pakistan Steel Mills and PIA etc, which have consistently drained the national exchequer.
Chairman Gilani commended the chamber’s hospitality and its significant role in the national economy. “I maintain strong connections with chambers across the country, and LCCI’s contribution to the economy is remarkable,” he added.
LCCI President Mian Abuzar Shad said like the Senate, the Lahore Chamber has also formed sector-specific committees to address industry-specific challenges effectively.
He said that private sector should be given representation in the Senate Standing Committees for powerful economic results.
While appreciating the efforts of Chief of Army Staff General Asim Munir, he said that the stabilization of the Pakistani rupee has been a significant achievement and the Army Chief deserves special credit for his role in this success.
The LCCI President urged the government to offer incentives and facilities to overseas Pakistanis. If provided adequate privileges, remittances can increase by 50%, significantly boosting our foreign exchange reserves.
Mian Abuzar Shad also called for policy continuity, reducing energy costs and ensuring transparency in governance. He further emphasized the importance of creating a business-friendly environment to attract foreign investment.
LCCI Senior Vice President Engineer Khalid Usman and Vice President Shahid Nazir Chaudhry stressed the need for public-private collaboration to tackle economic challenges.
They also called to reduce energy costs and invest in hydropower projects, which can provide businesses with affordable electricity.
The LCCI office-bearers also called for reforms in taxation and production policies to ensure the competitiveness of local industries. They said that our industries are the backbone of the economy and their revival is key to sustainable development.
LCCI President Mian Abuzar shad urged the government to introduce export-friendly policies and highlighted the potential of non-traditional export sectors.
He supported the privatization of loss-making state enterprises, saying that these organizations must either be restructured or handed over to the private sector to minimize fiscal burdens.
Mian Abuzar Shad added that political stability directly impacts business activity, stating, “Even a single day of disrupted business results in losses amounting to PKR 10 billion.”
