'Public-private Partnership Must To Move Ahead'

LAHORE, (UrduPoint / Pakistan Point News - 03rd Oct, 2016 ) : Being an important stakeholder, the business community should be taken onboard while formulating trade and economic policies by the government as no country could move ahead at economic front without a good public-private partnership.

These views were expressed by LCCI President Abdul Basit, Senior Vice President Amjad Ali Jawa and Vice President Muhammad Nasir Hameed Khan, in a meeting with delegations of Anjuman-e-Tajran Lahore led by Mujahid Maqsood Butt, All Pakistan Auto Air Conditioning Association led by Mian M.

Ijaz and Pakistan Poultry Association here at Lahore Chamber of Commerce & Industry on Monday. Abdul Razzaq Bubber, Khalid Pervez, Zahid Maqsood Butt, Rizwan Akhter Shamsi and others also spoke on the occasion.

The LCCI office-bearers said that country was abundant with resources but facing various economic challenges. Pakistan is the 4th and 9th largest cotton and wheat producing country of the world respectively while it has largest reserves of gold, copper and coal.

They said that according to a rough estimate, value of Pakistan's coal reserves was around USD 3 trillion that was 187 times more than the GDP of Pakistan. They said that only two percent of Pakistani coal reserves were enough to generate 20,000 MW electricity for almost 50 years.

The offic-bearers said that in addition to gold, copper and coal, Pakistan was also enriched with vast reserves of precious stones, gypsum, salt and marble but instead of taking full advantage of these God-gifted resources most of the share being exported in raw form and a little attention towards value addition could do miracle for the country and its people.

LCCI President Abdul Basit said early construction of water reservoirs was the only solution to ongoing energy crisis and the government should utilize all its resources to generate cheaper electricity.

He said that not only power projects in the pipeline should be completed at the earliest but new hydel projects in general and Kalabagh dam in particular should be launched without further delay.

The LCCI office-bearers informed the delegation members that issues of heavy increase in valuation of various goods, misuse of discretionary powers by tax officials, smuggling and raids on business premises would be raised with full force.

Head of the delegation of Anjuman-e-Tajran Mujahid Maqsood Butt hoped the LCCI new management would help resolve the issues like complex taxation system and business bank account attachment. He said that simplified and friendly taxation system would broaden the tax net.