Pak-China trade in local currencies proposed

Lahore: Trade between Pakistan and China should be in local currencies as the country is facing massive deficit in trade with China.

These views were expressed by the LCCI President Mian Nauman Kabir while talking to the delegations of Anjuman-e-Tajran Lahore, Pakistan Steel Melters Association and Ferozepur Road Industrial Association. LCCI Senior Vice President Mian Rehman Aziz Chan, Vice President Haris Ateeq also spoke on the occasion while Executive Committee Members were also present.

The LCCI President said that he requested to the Prime Minister to withdraw the FBR’s discretionary powers of bank attachment. He said that the land in industrial estates is very costly which should be brought down. He said that if the land cost is not reduced, Lahore Chamber will establish its own industrial estate.

“The Lahore Chamber of Commerce & Industry has taken up the issue of property tax with the Chief Minister Punjab Sardar Usman Buzdar in a recent meeting and he assured that it will come down to its previous rate”, the LCCI President said.

The LCCI office-bearers said that a conducive business environment will be resulted in good economic results for both the government and the business community. Genuine reservations of the business community should be addressed immediately with the consultation of stakeholders.

They said that the business community needs special care of the government as the COVID-19 have affected the businesses very badly in recent past and they are still struggling to get back on their feet. They said that their tax, infrastructure, traffic, parking plaza, LESCO and high cost of doing business related issues should be resolved immediately.

Chairman Pakistan Steel Melters Association Mian Ahmad Hassan highlighted the issues of high freight rates of shipping companies, their bad attitude towards the business community and demurrage charges.

The LCCI office-bearers said that early resolution of the issues of business community will promote the idea of public-private partnership that is the only way to surmount economic challenges being faced by the country. The Lahore Chamber will continue its untiring efforts in this regard. They said that Lahore Chamber aims to promote trade and investment by securing a business friendly environment in the country.

They said that government should allocate a sufficient part of development funds for the markets of Lahore where lack of infrastructure, damaged road network, bad sewerage system and traffic problems are hitting the business activities.

The LCCI office-bearers informed the visiting delegations that the Lahore Chamber also making all out efforts to secure a business-friendly environment through sharing views with the government high ups.

They said that the primary objective of LCCI is to protect the interests of the business community while remaining committed to the cause of development of the country. There are a number of issues that must be tackled on priority and the biggest one is how to keep the momentum of growth.

They said that the government should help business community to cope with the challenges. It is not only vital to accelerate the trade and economic activities but is also a must for trust building between the government and the private sector.

The delegation members threw light the issues being faced by their respective sectors and sought the LCCI help for early resolution.

Office-bearers of the Lahore Chamber of Commerce & Industry urged the concerned departments to take notice of the situation and immediately resolve the issue being faced by the city markets.

During the meetings, Chairman Pakistan Steel Melters Association Mian Ahmad Hassan, Chairman Pakistan Steel-Re-Rolling Mills Association Mian Manzoor Hayat, Mian Iqbal Tariq, Mehar Kashif, Mujahid Maqsood Butt, Abdul Razzaq Bubber, Tanveer Ahmad, Adnan Khalid Butt, Nadeem Qureshi, Usman Malik, Shafiq Butt and others also spoke.