Gillani supports LCCI’s call for consultation in lawmaking

Senate Chairman Yousaf Raza Gillani has endorsed the Lahore Chamber of Commerce and Industry's (LCCI) call for consultation before enacting laws, emphasizing that effective economic policy necessitates engaging with stakeholders. At the LCCI, Gillani addressed concerns such as taxation, regulatory hurdles, policy inconsistencies, and escalating business costs.

He commended Lahore's historical significance as a hub for commerce, industry, and entrepreneurship, recognizing the business community's contributions to employment generation, industrial growth, and national prosperity. Gillani underscored the Senate's legislative and oversight capacities as the House of Federations, asserting that its role in scrutinizing economic issues would facilitate productive dialogue between stakeholders and policymakers.

He pledged that the Senate would foster a legislative and policy setting that supports the business community, safeguards legitimate business interests, and advances national economic goals. Gillani urged the LCCI to persistently collaborate with parliamentary bodies, asserting that its practical expertise, well-informed suggestions, and sector-specific knowledge could significantly contribute to legislative deliberations and parliamentary scrutiny.

He noted that business prosperity not only creates jobs but also augments the nation's economic strength. LCCI President Ali Hussam Asghar called on the Senate Chairman to actively review legislation related to business, tackle regulatory obstacles, and foster a more business-friendly atmosphere. Asghar also suggested making the LCCI President an ex-officio member of the Senate's economic standing committees to ensure the business community's direct involvement in the legislative process.

While emphasizing the Chamber's advocacy role, particularly in legislation and economic policy-making, Asghar pointed out that certain laws had negatively impacted the feasibility and cost of doing business. He pointed to issues arising from raids, inspections, and arrests of businesspeople under various regulations, highlighting the growing apprehension among businessmen regarding their routine economic and industrial operations.

Asghar proposed addressing violations through financial penalties, education, and corrective actions instead of immediately initiating FIRs and arrests. He also suggested establishing a special review committee to evaluate existing laws and assess their impact on trade and industry. Member of the National Assembly Syed Ali Qasim Gillani pledged his assistance to the LCCI on legislation matters at the National Assembly level, citing an amendment to the Trade Organizations Act as an illustration of his collaboration with the business community.

This amendment altered the tenure of office-bearers in 277 chambers and associations from two years to one year.