Export-led growth requires business-friendly environment: LCCI

In a recent statement, the Lahore Chamber of Commerce and Industry (LCCI) emphasized the importance of a business-friendly environment and streamlined regulations to stimulate exports, industrial growth and sustainable economic development. At a meeting with a delegation of industrialists from Ferozepur Road, led by Adeeb Iqbal Sheikh, LCCI President Ali Hussam Asghar outlined these priorities.

During the event, Asghar pledged the LCCI's commitment to addressing industrialists' concerns and removing obstacles that hinder their operations. He inaugurated an ad-hoc committee, with Sheikh as its head, to tackle key industrial issues promptly. The president stressed that regulatory measures should not disrupt industrial and commercial activities.

Instead, fines and corrective actions should be used whenever legally applicable for rectifiable violations. He also revealed that the LCCI's complaint cell was connected with the Prime Minister's economic ministries to streamline the resolution of business grievances.

The chamber is also working towards establishing a Punjab government application, enabling investors to apply for new industrial units and obtain licenses through a simplified process. Asghar proposed offering small industrialists easy-term or interest-free loans to transition to environmentally friendly technologies, such as shifting boilers and other machinery.

The delegation shared their concerns over WASA bills, payment procedures, FIRs initiated by WASA and the Lahore Development Authority, as well as inadequate infrastructure like roads, drainage and sanitation facilities on Ferozepur Road.

Adeeb Iqbal Sheikh, the delegation leader, stressed that industrialists were prepared to pay genuine outstanding dues but called for resolving disputes through consultation and mutual understanding. Usman Ghani, Senior Vice President of the LCCI, highlighted the necessity of involving the business community in policymaking and safeguarding the dignity of industrialists and traders.