By Commerce Reporter
LAHORE, October 14 – Senior Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Saqib Fayyaz Magoon and President of the Lahore Chamber of Commerce and Industry Faheem ur Rehman Saigol, have jointly urged the government to extend the deadline for filing tax returns by at least one month to provide relief to the business community and allow them to submit their returns without undue pressure.
The two business leaders said that in the current economic situation, it is essential to facilitate traders to ensure continuity of business activities. During a meeting at the Lahore Chamber, President Faheem ur Rehman Saigol delivered a welcome address and elaborated on trade, economic matters and the vital role of the business community in national development.
The meeting was also addressed by FPCCI Senior Vice President Saqib Fayyaz Magoon, LCCI Senior Vice President Tanveer Ahmed Sheikh, LCCI Vice President Khurram Lodhi, Chairman Pakistan Artificial Leather Importers and Merchants Association Tariq Latif, FPCCI Vice Chairman Aman Pracha, President of the Hyderabad Chamber Adeel Siddiq and former Senior Vice President of LCCI Engineer Khalid Usman. Executive Committee Members Umer Sarfraz, Aamna Randhawa, Shaban Akhtar, former Executive Committee Member Mian Muhammad Nawaz and other members were also present.
In his address, Saqib Fayyaz Magoon praised Faheem ur Rehman Saigol, calling him a “popular and sincere leader” and a true representative of the business community who has always raised his voice for traders’ welfare. He said that the rising cost of doing business and increasing energy tariffs are the biggest obstacles to export growth. “Unless energy prices are rationalized, Pakistan cannot achieve sustainable export growth,” he added.
He said that the government must review Free Trade Agreements (FTAs) to ensure they serve Pakistan’s industrial and trade interests, enabling local products to compete effectively in international markets. He said that without improving the ease of doing business, stabilizing the economy is not possible. Investor confidence, policy continuity and business-friendly reforms are crucial for long-term growth.
Saqib Fayyaz Magoon said that the FPCCI has always remained in contact with the government to resolve the business community’s issues. However, he said that unless traders are included in policymaking, economic policies will not yield sustainable results. Appreciating the Lahore Chamber’s efforts, he said that it has always played a frontline role in highlighting traders’ concerns and that strong coordination between FPCCI and LCCI will lead to better economic outcomes.
LCCI President Faheem ur Rehman Saigol said that the Lahore Chamber of Commerce and Industry has always prioritized serving the business community and addressing their problems. He said that strong linkages within the business community strengthen the economy and the Lahore Chamber is committed to further promoting such connections.
He said that the government must immediately address the challenges faced by traders to revive business confidence and accelerate economic activity. “The private sector is the backbone of the national economy,” he said, adding that the government should include private-sector representatives in policy formulation to ensure decisions reflect ground realities.
Faheem-ur-Rehman Saigol mentioned that the Lahore Chamber not only raises the issues of its members with the government but also maintains constant communication with various ministries and departments to facilitate the business community. He appreciated the efforts of Saqib Fayyaz Magoon for safeguarding business interests and said his initiatives for economic improvement are commendable.
He said that the Lahore Chamber is actively submitting practical and actionable proposals to the government on matters related to taxation, energy, imports, exports and industrial policies. He added that the Chamber has become a unified voice of the business community and will continue to play its role more effectively in the future.
Faheem-ur-Rehman Saigol also expressed gratitude to Chairman of the Pakistan Artificial Leather Importers and Merchants Association, Tariq Latif, for his continuous cooperation with the LCCI.
Both leaders agreed to further strengthen coordination and collaboration between the Lahore Chamber of Commerce and Industry (LCCI) and the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) to protect and promote the interests of the business community.
The LCCI President said that the private sector’s role is crucial for Pakistan’s economic stability. “Until a conducive business environment and adequate facilities are provided to entrepreneurs, the economy cannot stabilize. The Lahore Chamber firmly believes that through collective efforts, we can take Pakistan’s industrial and commercial progress to new heights,” he said.
