LCCI For Private Sector's Representation In Public Sector Bodies

(@FahadShabbir)

LCCI for private sector's representation in public sector bodies

Lahore Chamber of Commerce & Industry (LCCI) on Saturday urged the government to ensure adequate representation of private sector in all important bodies whether it was the Federal Board of Revenue (FBR), Oil and Gas Regulatory Authority (OGRA), Indus River System Authority (Irsa) or the exports promotion related divisions

LAHORE, (UrduPoint / Pakistan Point News - 15th Jan, 2022 ) :Lahore Chamber of Commerce & Industry (LCCI) on Saturday urged the government to ensure adequate representation of private sector in all important bodies whether it was the Federal Board of Revenue (FBR), Oil and Gas Regulatory Authority (OGRA), Indus River System Authority (Irsa) or the exports promotion related divisions.

"Only public-private partnership can make a big breakthrough at the economic front. Therefore, the government should take business community on-board at all economic matters and ensure its representation in government departments," the LCCI President Mian Nauman Kabir stated this while talking to the media here.

The LCCI President said that being the major stakeholder of the country, business community should have representation in the parliament and all important bodies. He said that policies could be conducive for trade and industry only with participation of main stakeholder in the policy formulation process.

"Business community can be the most powerful economic force of the government for which they should be taken on board and treated as partner," he remarked.

Mian Nauman Kabir said that POL prices should not be an option to overcome the trade deficit or to bear the non-productive expenditure of the state. He said that POL was the major raw material, adding that business community should be given 50 per cent representation in Oil and Gas Regulatory Authority (OGRA) to control the hike in POL prices.

Mian Nauman Kabir said that due representation of the private sector in the public sector bodies would help promote knowledge-based economy, export promotion, increase in tax-to-GDP ratio besides overcome inefficiency of public-sector entities, brain-drain, shortage of skilled human resources and low industrial production etc.

The LCCI President urged the government to conduct market research to find out new destinations for the Pakistani products which were best in the world as far as quality and price was concerned. He said that Pakistani Missions abroad should be duty bound to introduce Pakistani products to the foreign buyers and also ensure dissemination of trade related information so that Pakistan entrepreneurs could avail trade opportunities to the maximum.

"It is time to diversify our businesses and have to add new products to attract maximum foreign buyers for Pakistani products," he added.

He said that trade and Industry was the backbone of the economy as the government generates major chunk of its revenue from this sector, therefore, it could make a great contribution in turning Pakistan into one of the greatest nations in the world provided due facilitation and an enabling business atmosphere were ensured. He also stressed the need for strengthening of institutional framework for being a prerequisite to economic stability, progress and prosperity.

On this occasion, LCCI Senior vice president Mian Rehman Aziz Chan said that there were a number of issues that must be tackled on priority, the biggest one was how to keep the momentum of growth. The second one was the widening gap between exports and imports that could be contained by reducing import of luxury items.

LCCI Vice president Haris Ateeq said that the frequent increases in the prices of energy were making Pakistani products uncompetitive in the international market.

The LCCI office-bearers said that the representation of the private sector in the important governmentdepartments would not only ensure business-conducive policies but also reduce burden from the government.