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Home Pakistan

LCCI President Faheem-ur-Rehman Saigol warns: Port delays, rising costs hitting economy

10 months ago
in Pakistan
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LAHORE, December 17 — The Lahore Chamber of Commerce and Industry (LCCI) held a press conference to discuss the issues faced by transporters. Speaking to the media, LCCI President Faheem-ur-Rehman Saigol said that the transporters’ strike in Punjab has ended and the Punjab government deserves appreciation for its timely steps and positive role.

Read also: Founders Group urges govt to resolve transporters’ strike to avert economic losses

He said the government quickly formed committees and made serious efforts to resolve the issues, which helped restore business activities in the province.

Senior Vice President Tanveer Ahmed Sheikh, former Senior Vice President Zafar Mahmood Chaudhry, Executive Committee members Riaz Shahid Tajik, Aamir Ali, Syed Salman Ali, Asif Malik, Rana Nisar, and Vice Chairman PIAF Nasrullah Mughal were also present at the press conference. Representatives of the Transporters Association, including Ismatullah Niazi, Nabeel Tariq, and Bao Irfan, also attended.

The LCCI President said that while the situation in Punjab has improved, export and import consignments are still stuck at ports and are not reaching other provinces. He added that disruptions in the supply of raw materials have increased business costs, and the price of industrial resin alone has gone up by Rs 500.

He further said that food supplies are being affected, creating the risk of a serious crisis. The current account deficit has increased and exports have come to a halt. When transport stops, the entire economy slows down, he said, stressing that immediate action is needed in other provinces as well.

Faheem-ur-Rehman Saigol urged the Sindh and federal governments to take notice, saying that traders are facing heavy demurrage charges at Karachi ports due to the ongoing strike. He demanded that heavy fines on the transport sector be rationalized, the FIR culture be ended, relaxation be given in fitness tests, proper parking and stand facilities be provided, and the transport sector be given the status of an industry to make business operations smoother.

He said that the strike has already caused losses worth billions of rupees. Tax collection depends on business activity, he added, and taxes can only be collected when businesses are operating. He pointed out that there is a deadlock with the federal government on some key issues, including SRO 499, which is a federal matter, and axle load limits, which is a Sindh issue, and both must be resolved immediately. He emphasized that national interest should be given priority over politics.

The LCCI President concluded by saying that the Punjab government’s timely and positive measures are a good example, and similar serious and immediate actions are needed in other provinces to protect the economy and ensure a stable business environment.

Tags: [:en]LccI[:]axle load limitsbusiness losseseconomyexportsFaheem ur Rehman Saigolfederal governmentimportsindustrial costsKarachi portslogisticsPunjab governmentSindh governmentSRO 499trade disruptiontransporters’ strike
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