Pakistan’s economy touching USD 300 billion is a milestone, sustainability remains real test: LCCI SVP

By Commerce Reporter 

LAHORE: Senior Vice President of the Lahore Chamber of Commerce & Industry (LCCI), Tanveer Ahmed Sheikh, has stated that Pakistan’s economy reaching the USD 300 billion mark is a significant milestone and reflects the country’s underlying economic potential. However, he emphasized that the real challenge lies in ensuring sustainable, export-led, and investment-driven growth.

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He noted that while the increase in GDP size is encouraging, Pakistan must now focus on structural reforms, industrial productivity, and policy consistency to maintain momentum. “Economic size alone does not define strength. True economic stability comes from strong exports, reduced import dependence, and long-term investor confidence,” he said.

The LCCI Senior Vice President highlighted that Pakistan’s economy has historically remained vulnerable due to reliance on imports, high energy costs, and limited value-added exports. He stressed the need to broaden the tax base instead of overburdening existing taxpayers, and to provide relief to the productive sectors of the economy.

Tanveer Ahmed Sheikh further emphasized that manufacturing, SMEs, agriculture value addition, and technology-driven sectors must be prioritized to ensure inclusive growth. He added that reducing the cost of doing business—particularly energy tariffs, interest rates, and regulatory bottlenecks—will be critical for industrial revival.

He also called for policy continuity, stating that frequent changes in economic and tax policies discourage both local and foreign investors. “Pakistan needs a clear medium- to long-term economic roadmap that transcends political cycles,” he remarked.

The LCCI Senior Vice President concluded by urging the government to work closely with the business community, stating that sustainable economic growth is only possible through public-private collaboration, export diversification, and a strong focus on productivity and competitiveness.

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