One-window facilitation, SEZs vital for investment: Qaiser

LAHORE: Federal Minister for Investment Qaiser Ahmed Sheikh highlighted the significance of one-window service centers, Special Economic Zones (SEZs), and business input into policy formulation to draw investment and spur industrial expansion. Addressing the Lahore Chamber of Commerce and Industry (LCCI) on Monday, Sheikh pledged government collaboration with the chamber to tackle investors' concerns, enhance the business climate, and boost industrial growth.

He stressed the necessity of the business community participating in policy-making, citing their familiarity with on-the-ground conditions and challenges businesses face. Government entities should seek input from chambers of commerce prior to enacting policies that impact investment and commerce, he added. Sheikh underscored the importance of a streamlined one-window system to eliminate superfluous delays and prevent investors from having to visit multiple departments.

He also emphasized the need for roads, infrastructure, and other integral facilities in SEZs, asserting that land allotment alone was insufficient to attract investors. He announced projects to utilize around 6,000 acres of Pakistan Steel Mills land in Karachi for an SEZ and called on investors to consider the opportunities. LCCI President Ali Hussam Asghar advocated for the cessation of stringent enforcement actions that interfere with lawful business operations, urging authorities to grant businesses a fair chance to correct minor or correctable violations before initiating FIRs or sealing premises.

He reiterated the chamber's support for law enforcement but stressed that it should be fair and proportionate. He also advocated for a review of pertinent legislation, including the Punjab Environmental Protection Agency Act and the Punjab Food Authority Act, to address business grievances. Several industries in Lahore, operating for 5 to 30 years, were under threat of relocation from the Lahore Development Authority and other departments, he noted, urging the government to devise a clear and transparent relocation policy, provide reasonable deadlines, alternative industrial sites, and consultations with business representatives.

He noted that the LCCI had established a complaint center to assist members in reporting issues to relevant authorities and tracking their resolution. LCCI Senior Vice President Sardar Usman Ghani stressed the need for an investment-driven growth strategy, with progress gauged by actual capital inflows, new industrial setups, increased production, job creation, and export growth.

He criticized the cumulative tax burden, including corporate tax, dividend tax, super tax, and others, for impeding businesses' ability to reinvest profits and expand. Ghani called for a review of the overall tax burden and greater coordination among government agencies to address taxation, energy costs, approvals, land acquisition, and financing challenges.

LCCI Vice President Chaudhry Khadim Hussain stressed the importance of prompt resolution of business problems, reliable infrastructure, streamlined regulatory procedures, and policy consistency. He stressed that robust government-private sector cooperation was crucial to stimulate industrial production, investment, employment, and exports.