LCWA, Lahore Chamber to motivate foreign investors

LAHORE: Lahore Council for World Affairs (LCWA) and Lahore Chamber of Commerce and Industry (LCCI) Wednesday decided to jointly motivate foreign investors and enhance regional economic cooperation.

The LCWA President and former Ambassador Javaid Hussain and LCCI President Farooq Iftikhar made this decision in a meeting here at the LCCI, where the working of trade missions abroad, decline in investment, energy shortage, corruption and lack of infrastructure were the areas that came under detailed discussion.

There was a consensus that LCWA would develop comprehensive guidelines for Pakistan's trade missions abroad so that they could be able to enhance exports and increase foreign investment in Pakistan.

The LCCI President also asked the LCWA to also prepare a report on regional economic cooperation to exploit regional trade potential as the existing forums have failed to tap the trade potential.

It was also agreed that both the sides would jointly conduct seminars and workshops for the business community on the economic issues.      He was of the view that government would have to initiate construction of large water reservoirs to bridge the fast widening electricity demand and supply gap.

The LCCI President said the business community was also equally disturbed over the decline in local and foreign investment and wanted the government to take effective measures to restore the investors' confidence.

He urged the government take the private sector on board to arrest the economic meltdown that was keeping the investors from putting their money in new ventures in Pakistan.

It is to mention here that LCWA is an independent and non-profit organization, established in May 2012 with focus on economic challenges. The membership of LCWA comprises former Ambassadors and distinguished citizens from various walks of life.