Punjab PA speaker vows to address businessmen’s concerns

LAHORE — Speaker of the Punjab Assembly, Malik Ahmad Khan, has pledged to address the concerns of the Lahore Chamber of Commerce and Industry (LCCI) regarding regulatory enforcement, taxation, industrial development, and investment facilitation. During a meeting on Friday, Khan emphasized that effective legislation necessitates consultation with stakeholders, adding that over-regulation can dissuade investment and hinder economic activity.

LCCI President Ali Hussam Asghar, Senior Vice President Sardar Usman Ghani, and Vice President Chaudhry Khadim Hussain presented proposals aimed at ending the frequent use of First Information Reports (FIRs), preventing the humiliation and harassment of traders, and reviewing arrest powers. These proposals also targeted other issues affecting the business community.

The Speaker acknowledged the vital role of the business community in driving economic growth, generating employment, attracting foreign direct investment, earning foreign exchange, advancing infrastructure development, and contributing to corporate social responsibility.

The Speaker assured the LCCI leadership that the Punjab Assembly is receptive to dialogue with the business community. He highlighted Prime Minister Shahbaz Sharif's commitment to building investor confidence and strengthening the nation's economy, as well as Chief Minister Maryam Nawaz Sharif's efforts to promote development in the province, specifically in infrastructure, roads, municipal services, and the overall investment climate.

Khan assured that the proposals discussed during the meeting would be reviewed and discussed with relevant departments and authorities.

LCCI President Ali Hussam Asghar called for consultation with the business community before introducing laws and regulations affecting trade, industry, and investment. He presented a set of proposed amendments to the Punjab Real Estate Regulatory Authority to the Speaker and appreciated the efforts of LCCI Executive Committee Member Shah Behram. Senior Vice President Sardar Usman Ghani, Vice President Chaudhry Khadim Hussain, and others also addressed the gathering.