LAHORE, October 28 — Lahore Chamber of Commerce and Industry (LCCI) President Faheem ur Rehman Saigol has said that a strong and stable economy is the foundation for national progress, asserting that economic strength is the “fifth pillar of the state.” He emphasized that without economic stability, no other sector can function effectively.
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He expressed these views while welcoming a delegation of the Pakistan Economic Movement (Fifth Pillar), led by Abid Ali Butt, at the LCCI. Senior Vice President Tanveer Ahmed Sheikh, Vice President Khurram Lodhi, Vice President SAARC Chamber Mian Anjum Nisar, Kasur Chamber President Kashif Khokhar, Nankana Chamber President Sardar Mian Nadeem Jalandhar, LCCI former Senior Vice President Zafar Mahmood Chaudhry, and Executive Committee Member Rana Nisar were also present.
Faheem ur Rehman Saigol said the business community is the backbone of the national economy and should be treated accordingly. He called on the government to ensure a business-friendly environment by reducing the cost of doing business, lowering power tariffs, and taking full advantage of U.S. preferential trade benefits. He stressed that lowering production costs and ensuring policy continuity are crucial for boosting exports and creating jobs.
Speaking on the occasion, Mian Anjum Nisar emphasized that sustainable economic stability can only be achieved through consistent policies and effective implementation of reforms. He urged the government to take prompt and practical measures to strengthen trade and industry and restore business community confidence.
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Abid Ali Butt, leader of the Pakistan Economic Movement delegation, said that the business community must be included in the policy-making process. He stressed that economic policies should reflect the realities faced by traders and industrialists to achieve true economic revival. He pointed out that Pakistan’s GDP growth rate remains alarmingly low and called for proactive steps to promote industrial and commercial activities and attract investment to revive economic performance.
