Lahore Chamber To Be Made Part Of Economic Policy Formulation: Qasim Suri

LAHORE, (UrduPoint / Pakistan Point News - 11th Nov, 2020 ) :Deputy Speaker National Assembly Qasim Khan Suri said on Wednesday that Lahore Chamber of Commerce and Industry (LCCI) would be the part of economic policy formulation.

Talking to businessmen here at LCCI, Qasim Khan Suri said the business community was more than welcome to participate in the Standing Committees of the Parliament related to the trade, finance and economy. The government will listen to the business community and will work hand in hand with them to further the business activities in the country. The government has also ensured that the business activities must continue during the COVID-19, which is the sign of the commitment we have for the assistance of our businessmen.

Qasim Khan Suri said that economy was imperative in the uplift of any country, adding, "We will make sure that the business friendly policies should continue for the long term." He said overpopulation was the main reason behind the lack of facilities, adding that at some stage of COVID-19 spread, we had strong concerns that if this disease spreads more, how will we be able to provide basic health facilities at this large scale. He said, "To begin with, we didn't even have ventilators and we were importing petty items like masks to fulfill our needs. Now we are not only producing masks and ventilators but also exporting these items." He said the support and contribution of business community to fight Coronavirus enabled us to control the disease along with help our countrymen in need.

Speaking about the regional trade, Qasim Khan Suri said that in recent years our exports to Afghanistan have been decreased substantially, this is due to the unrest in the neighbor country. The present government is ready to work with any government establishment in Afghanistan and is forming policies which will enable our exporters to export more freely in Afghanistan.

He said the low volume of formal trade with Iran was due to the sanctions imposed on the neighboring country. "We have many a time requested Iranian Envoy to Pakistan and their trade authorities to provide us the information of how they are trading with other countries without the banking channels so that we could follow the same model for the trade expansion between two countries but they have not responded to our calls despite our numerous efforts" said Qasim Khan Suri.

He said recently, "We have been under pressure to accept Israel and form trade relations with them for the betterment of our economy, adding that we are an ideological state, we not only live with this ideology but will protect it," added Qasim Khan Suri.

President LCCI Mian Tariq Misbah said that the LCCI understands that the government was fully utilizing all its possible resources to revive the economy and businesses in these crunch times and appreciates the efforts of the government in curtailing the current account deficit from 20 billion Dollars to 3 billion dollars besides reducing the trade deficit considerably.

He said the unity shown by the government and the entire Parliament in supporting the businesses adversely impacted by COVID-19 outbreak through various schemes in recent months was commendable. "We believe that the economic crisis is still far from over, therefore, the role that Parliament can play under your leadership in coming months is of great importance", he added.

Mian Tariq Misbah requested the Deputy Speaker to play a special role in engaging the members of Parliament for introducing effective legislation to control the ongoing price hike in the country that is not only adding to the cost of doing business but also making the cost of living out of the range for common people.

The LCCI President said the industry had been showing negative growth rates since the last two years. Pakistan has entered into an era of de-industrialization. He requested the members of parliament to formulate a special charter for enhancing the process of industrialization in the country which needs to be implemented regardless of the change of Federal government.

He said that representatives of the private sector must be taken on board while chalking out business/trade related policies. Standing committees in the National Assembly can be excellent forums for this purpose. LCCI will be really pleased to have this opportunity to take part in the activities of these committees. It will let us submit the specific proposals of the business community to highlight the critical issues being faced by the business community, he added.

Senior Vice President LCCI Nasir Hameed Khan said the government and the business community should work together for the development of the economy.

Vice President Tahir Manzoor Chaudhry thanked the Deputy Speaker National Assembly Qasim Khan Suri for visiting LCCI and listening to the issues of the business community.