Investment scenario is fast improving under CM Punjab: LCCI VP Nasir Saeed
LAHORE: Business community of Punjab, especially Lahore, has always been in the forefront to pay its tax liabilities in order to broaden the tax net. Trade with India is beneficial for Pakistan but the government must have to remove the reservations of certain sectors, including the pharmaceutical and automobile sectors. Under the dynamic leadership of Punjab Chief Minister Shahbaz Sharif, investment scenario in the province is fast improving in the province.
These views were expressed by Lahore Chamber of Commerce and Industry (LCCI) Vice President and President PML-N Trade Wing Nasir Saeed while exclusively talking to Customs Today.
Nasir Saeed said that all the businessmen were in favor of documentation of the economy but the way the new taxation measures are being implemented was against all norms.
He stressed the need for exploration new markets to jack-up export volume. Due focus should also be given to non-traditional items for which Pakistan has sufficient expertise and potential as well. Potential markets include China, Turkey, Central Asian States and African countries. The fact that these locations are invariably in the developing world means that these markets will show healthy growth when developed markets begin contraction is a major asset in the future.
“I am an avid advocate of trade among the regional countries and particularly with the bordering states. We can easily wear off the intensity of global financial threats by increasing our trade in the region,” he added.
On MFN to India, Nasir Saeed said that the business community is in favour of trade with India but the government would have to satiate the reservation of certain sectors including pharmaceutical and auto.
If Pakistani businessmen can cope with Chinese products so there in nothing to worry about India but definitely we need to put our house in order. We must be very strong internally because one’s weaknesses expose him to many threats.
Talking about the Punjab government’s performance he said that under the dynamic leadership of Chief Minister Punjab Mian Muhammad Shahbaz Sharif, investment scenario in the province is fast improving as a large number of foreign investors have very recently signed agreements with the Punjab government for putting money in many new ventures in the province.
In the province, the energy situation today is not as bad what we were used to face in yester years and we are quite optimistic that in coming years power outages would become a story of the past as work on many new power generation projects is well on way.
He said that the governance level in the province is also quite satisfactory because of the monitoring mechanism put in place by the chief minister. No doubt in it that scattered incidents of terror took place in recent days but the overall situation is good when is compared with other provinces.
He believed that prudent economic policy decisions are always essential to any sustainable solution to the challenges being faced by the country.
Talking about the issues being faced by the trade and industry, he said that taxation issues were impacting the competitiveness of Pakistani merchandise both in local and foreign markets.
In answer to a question about women development, he said that the LCCI is a unique trade body as it is catering for all its women members with same zeal and zest. It has a well-equipped Women Resource Centre where women entrepreneurs are given proper guidance and training.
He also shed light on the Corporate Social Responsibility (CSR), Saeed highlighted that LCCI has donated a huge amount for the well-being of the destitute and the needy. Besides he also mentioned of patronizing Lahore Businessmen Association for the Rehabilitation of Disabled (LABARD) where the less privileged class of the society is not only provided training facilities, but they are also provided employment.
