LAHORE: President of the Lahore Chamber of Commerce and Industry Sheikh Muhammad Arshad said that solution of economic challenges lies in strengthening of public-private partnership.
He was talking to the delegations of Auto Air conditioning Association of Pakistan led by Malik Muhammad Nadeem, delegation of Pakistan Auto and Spare Parts Importers and Distribution Association (PASPIDA), Homoeopathic Association led by Saifur Rehman and Hamza Bukhari, All Pakistan Paper Merchants Association (APPMA) led by its Senior Vice Chairman Khamis Saeed Butt and All Pakistan Cottage Industry & Small Traders led by Ghulam Sarwar Malik here at the Lahore Chamber of Commerce and Industry. LCCI Senior Vice President Almas Haider and Vice President Nasir Saeed also spoke on the occasion and shared their expertise on economic challenges, taxation system and energy shortage.
Sheikh Muhammad Arshad said that strong public-private partnership can help surmount economic challenges being faced by the country. The Lahore Chamber of Commerce and Industry would continue its untiring efforts in this regard.
He said that the Lahore Chamber of Commerce and Industry aims to promote trade and investment in the country by enacting the policies of the government and securing a business friendly environment in the country.
The LCCI President said that the Lahore Chamber of Commerce and Industry also tries to secure a business-friendly environment through sharing views with the government. 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.
Sheikh Muhammad Arshad said that there are a number of issues that must be tackled on priority and the biggest one is how to keep the momentum of growth in the wake of a less than targeted growth of the Agriculture and the Manufacturing sector. The second one is the widening gap between exports and imports that could be contained by reducing import of luxury items.
He said that the cut in the low input cost would make Pakistani products competitive in the international market where Pakistan was loosing the international markets to China, India and even Bangladesh.
He stressed the need for developing regional, product specific and target oriented marketing strategy. New markets and new products need to be explored to reduce country’s dependence on few commodities and countries. Ijaz A. Mumtaz said that Pakistan’s exports are highly concentrated in few items. Such concentration in few markets can also become a source for instability in export earnings.
