By Commerce Reporter
LAHORE: The Senior Vice President of the Lahore Chamber of Commerce & Industry, Mr. Tanveer Ahmed Sheikh, has expressed deep concern over the growing reports of multinational companies considering winding down or reducing operations in Pakistan due to rising costs, taxation challenges, and an unpredictable business environment.
Commenting on the situation highlighted in recent economic reports, the SVP stated that the exit of MNCs would create a major setback for Pakistan’s economy by reducing foreign direct investment, slowing technology transfer, limiting employment opportunities, and weakening Pakistan’s global business credibility.
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Sheikh emphasized that urgent government intervention is needed to retain existing multinational investors. He highlighted the following key areas for immediate action:
1. Reforms in high import tariff and protection policies to ensure that compliant companies are not overburdened.
2. Clear, stable, and predictable tax policies, enabling businesses to plan operations confidently.
3. Streamlined regulatory procedures with fast-track approvals to improve ease of doing business.
4. Strengthening investor protection mechanisms to restore confidence in Pakistan as a long-term investment destination.
The SVP stressed that multinational companies have contributed significantly to Pakistan’s industrial growth, employment, and exports. Their continued presence is vital for sustaining economic momentum.
He strongly urged the government to engage directly with MNC leadership, address their concerns on priority, and adopt a collaborative approach to prevent an outflow of investment from the country.
“Pakistan cannot afford further economic shocks. It is essential that we stabilize the business environment and send a clear message to the global community that Pakistan remains open, competitive, and supportive for international investors,” Mr. Sheikh added.
The Lahore Chamber reaffirmed its commitment to working closely with policymakers to ensure a healthier, investor-friendly economic landscape for sustainable national growth.
