By M Qadeer
LAHORE: The Lahore Chamber of Commerce & Industry (LCCI) has emerged as a powerful voice for the business community under the leadership of President Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman, and Vice President Shahid Nazir.
Over the past months, the chamber has achieved remarkable milestones, securing key policy wins, strengthening international trade ties, and facilitating business growth in Pakistan.
One of the biggest successes of LCCI has been its active role in influencing economic policies. The chamber played a crucial part in revising unfavorable agreements with Independent Power Producers (IPPs), leading to reduced electricity rates.
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This move provided significant relief to businesses struggling with high operational costs. Another major victory was LCCI’s strong opposition to the Federal Board of Revenue (FBR)’s controversial affidavit requirement for CFOs.
The chamber’s intervention led to the suspension of this policy, which had created unnecessary complications for businesses.
LCCI also played a significant role in advocating for a reduction in Pakistan’s high interest rates. The chamber continuously engaged with policymakers, urging them to lower the rates to support economic growth. These efforts bore fruit when the State Bank of Pakistan reduced the interest rate from 22% to 12%, a move welcomed by the entire business community. Additionally, LCCI issued timely warnings to the government about the looming wheat crisis, urging authorities to take preventive measures. The chamber also raised concerns about Pakistan’s worsening water shortage, emphasizing the need for urgent action to avoid long-term economic consequences.
In a demonstration of its growing influence, LCCI set a new record by hosting over 100 trade delegations in a single month, an unprecedented achievement in its history. These delegations helped foster business ties, strengthen trade relations, and open new opportunities for Pakistani entrepreneurs. The chamber also played host to several high-profile meetings with government officials, including Prime Minister Shehbaz Sharif, Punjab Governor Sardar Saleem Haider, Senate Chairman Syed Yousaf Raza Gillani, the IG Punjab, and several federal and provincial ministers.
LCCI’s international engagement also reached new heights. The chamber welcomed ambassadors from Azerbaijan, Uzbekistan, Saudi Arabia, Bangladesh, and Switzerland, strengthening diplomatic and economic ties. These meetings resulted in significant trade advancements, including Azerbaijan’s announcement of a Trade Center in Lahore, which will enhance commercial opportunities between the two countries.
In addition to policy wins, LCCI took strong steps to support industrial operations in Lahore and beyond. The chamber successfully lobbied against industrial shutdowns due to smog, securing extended operating hours for factories and businesses. Furthermore, when the Petroleum Ministry’s notification caused delays in clearing industrial chemical containers at ports, LCCI intervened to ensure their timely release. This swift action prevented disruptions in manufacturing and industrial production, highlighting LCCI’s role as a crucial problem solver for businesses.
The chamber also took a stand against unfair taxation and excessive fixed electricity charges imposed on businesses. By advocating for tax relief and fighting against these burdensome policies, LCCI helped ease financial pressures on the business community. It also pushed back against the FBR’s controversial policy of frequent password changes for online tax filing, arguing that it created unnecessary hurdles for taxpayers. These efforts resulted in much-needed relief for businesses navigating an already complex regulatory environment.
LCCI’s efforts extended beyond policy and regulatory matters to organizing large-scale events that promoted business growth. The Lahore Shopping Festival, held from January 31 to February 2 at the Expo Center Lahore, was a massive success. The event attracted thousands of visitors, including Punjab Governor Sardar Saleem Haider and an Iranian delegation, providing businesses with a platform to showcase their products and expand their customer base.
Recognizing the need for modernization, LCCI also launched a new online membership renewal system, making it easier for businesses to maintain their membership without unnecessary paperwork and delays. This digital transformation is part of the chamber’s broader vision to make business operations smoother and more efficient.
LCCI also conducted seminars on various pressing topics, including Islamic banking, real estate taxation, artificial intelligence, digitization of industry, and e-commerce. These events featured prominent experts, government officials, and business leaders who provided insights and guidance on navigating modern business challenges.
As LCCI continues its journey under the leadership of Mian Abuzar Shad, its commitment to economic reforms, industry support, and global trade expansion remains strong. The chamber has demonstrated its ability to influence policy, resolve business challenges, and create new opportunities for the business community. Its proactive approach and close engagement with both local and international stakeholders have positioned LCCI as a leading force in shaping Pakistan’s economic future.
With these achievements, LCCI is not only strengthening Pakistan’s business landscape but also paving the way for sustainable economic growth and prosperity. As the chamber looks ahead, its focus will remain on fostering an environment where businesses can thrive, investments can grow, and Pakistan can emerge as a competitive player in the global market.
