LAHORE: Governor Punjab Malik Muhammad Rafiq Rajwana has said that Private sector of the country is the key to achieve the economic targets therefore all possible measures are being taken to provide them a friendly business atmosphere.
He was talking to the delegation comprising Lahore Chamber of Commerce and Industry (LCCI) Vice President Muhammad Nasir Hameed Khan, former presidents Mian Anjum Nisar, Muhammad Ali Mian, Sohail Lashari former Senior Vice President Irfan Iqbal Sheikh and LCCI Executive Committee Members.
He said that business community is the backbone of the economy and no stone would be left unturned to resolve the issues being faced by the business community. On the occasion China Pakistan Economic Corridor (CPEC) and various other issues came under discussion.
The LCCI Vice President Muhammad Nasir Hameed Khan in his remarks called for due participation to the private sector in the Advisory Committees of the government. He said that it would establish close working relations between public and private sectors and would also help resolving the issues in shortest possible time.
The LCCI Vice President stressed the need for making target oriented efforts to attract the much-needed foreign investment in the country. He said that foreign investment in power sector would help government to get rid of the ongoing severe energy crisis that has jolted the basis industrial sector.
He said that in the recent past, fall in Foreign Direct Investment has adversely affected the country’s economic growth. The situation is far better than the past prudent measures should be adopted to attract the foreign investment so that the country comes out of lopsided interest of foreign investors.
He said that institutional fragility and the political instability is the major factors keeping the foreign investors away. He said that rising risk perception about investing into Pakistan is hitting hard the entire economy and needs to be tackled through a new policy approach by involving Chambers of Commerce in the country.
Former LCCI President Mian Anjum Nisar and former Senior Vice President Irfan Iqbal Sheikh said that the government would also have to give incentives to the local investors as if the local investors have the confidence, they would able to convince foreigners to invest in various sectors of the economy. They also called for a strategy for industrial expansion.
