AVN 51.24 Increased By ▲ 2.18 (4.44%)
BAFL 28.67 Increased By ▲ 0.12 (0.42%)
BOP 3.62 Decreased By ▼ -0.01 (-0.28%)
CNERGY 3.27 No Change ▼ 0.00 (0%)
DFML 10.74 Decreased By ▼ -0.06 (-0.56%)
DGKC 52.60 Increased By ▲ 0.62 (1.19%)
EPCL 43.90 Increased By ▲ 0.30 (0.69%)
FCCL 12.41 Decreased By ▼ -0.01 (-0.08%)
FFL 6.20 Increased By ▲ 0.04 (0.65%)
FLYNG 5.99 No Change ▼ 0.00 (0%)
GGL 10.30 Increased By ▲ 0.04 (0.39%)
HUBC 68.66 Increased By ▲ 0.16 (0.23%)
HUMNL 5.84 No Change ▼ 0.00 (0%)
KAPCO 22.60 Decreased By ▼ -0.05 (-0.22%)
KEL 1.84 Increased By ▲ 0.01 (0.55%)
LOTCHEM 29.50 Increased By ▲ 0.60 (2.08%)
MLCF 28.70 No Change ▼ 0.00 (0%)
NETSOL 81.35 Increased By ▲ 4.45 (5.79%)
OGDC 79.90 Increased By ▲ 1.50 (1.91%)
PAEL 9.76 Increased By ▲ 0.09 (0.93%)
PIBTL 4.31 Increased By ▲ 0.10 (2.38%)
PPL 61.65 Increased By ▲ 1.16 (1.92%)
PRL 14.43 Decreased By ▼ -0.05 (-0.35%)
SILK 1.10 Increased By ▲ 0.04 (3.77%)
SNGP 42.98 Increased By ▲ 0.48 (1.13%)
TELE 7.22 Increased By ▲ 0.12 (1.69%)
TPLP 13.21 Increased By ▲ 0.44 (3.45%)
TRG 99.00 Increased By ▲ 2.87 (2.99%)
UNITY 15.40 Increased By ▲ 0.17 (1.12%)
WTL 1.19 Increased By ▲ 0.01 (0.85%)
BR100 4,190 Increased By 29.8 (0.72%)
BR30 14,589 Increased By 182.3 (1.27%)
KSE100 41,904 Increased By 217.8 (0.52%)
KSE30 14,804 Increased By 61.5 (0.42%)
Follow us

LAHORE: The Lahore Chamber of Commerce and Industry on Tuesday demanded a Charter of Economy by all the political parties instead of elections.

The demand was raised collectively at a meeting with Governor Khyber Pakhtunkhwa Haji Ghulam Ali at the Lahore Chamber of Commerce and Industry.

LCCI President Kashif Anwar presented the address of welcome while Senior Vice President Zafar Mahmood Chaudhry and Vice President Adnan Khalid Butt also spoke on the occasion. LCCI Executive Committee members and former office-bearers were also present on the occasion.

Boycott of general elections: Progressive Group of LCCI supports decision of all chambers

The participants also passed a resolution saying “we want economy, not elections”.

Governor Khyber Pakhtunkhwa Haji Ghulam Ali said that all segments of society, including politicians and the business community, should think beyond all kinds of politics, and play their role for economic development of the country.

The Governor KP said that collective approach has to be adopted to resolve the issues being faced by the business community, economy and the State. He said that when the state is weak, its foundations are shaken. He said that the economy and industry are the main pillars of our state. We have to think about the development of economy, industry, elimination of unemployment and to control the inflation.

He said that all 54 Chambers should stick to their demand of election boycott if the Charter of Economy is not signed. He said that only the business community can bring the country out of economic difficulties.

The Governor said that KP is enriched with vast mineral resources that will not be exhausted even in the next hundred years. He said that the business community should invest in the mineral sector of KP. Full support will be extended to the investors and a seminar will also be organized in this regard in Governor House of KP.

“I have suggested that all the political parties should be persuaded to sit on one table and hold the election on the same day,” he said and added that it will cost only Rs50 billion instead of Rs200 billion. He said that Punjab is a big brother, if there is any problem in Punjab, the backbone of the whole country will be broken. He said that Turkey also got out of economic difficulties and achieves the goals of economic development.

LCCI President Kashif Anwar said that our country is currently suffering from severe political instability which is having a direct impact on our economy. The conditions of our country require that a charter of economy should be signed without further delay and whichever political party comes to power, should fully implement this charter.

He said that we cannot afford inflation rate of 27%. He said that our economic problems have multiplied due to the hike in dollar price against Pak rupee. This situation is not only keeping the foreign investment away but is also discouraging the local investors.

The LCCI President said that the foreign exchange reserves reached at the lowest level in the history because of which, the banks are not opening new LCs while thousands of imported containers are stuck at the ports occurring demurrage and detention charges. He said that due to non-availability of raw materials, many industries have closed down their operations. He said that although the Federal Minister for Maritime Affairs has given the statement that demurrage and port charges will be waived off, but no notification has been issued in this regard yet.

Copyright Business Recorder, 2023


1000 characters
Mian Mumtaz Ahmed Feb 08, 2023 10:41am
NO TAX WITHOUT REPRESTATION. Govt should cut major expenses of bureaucracy/civil servants. ( Just salary no perks like cars, fuel, house rent, electricity etc etc.) MNA and MPA, military expenses should be cut and then ask for more taxes from citizens. Agriculture Income and land tax should be applied for unnecessary investments in plots.
thumb_up Recommended (0) reply Reply

LCCI says wants ‘charter of economy’, not elections

As budget announcement nears, here are some proposals that could affect you

How experts view the upcoming budget announcement

Federal cabinet meeting approves Budget 2023-24

Cyclone Biparjoy: Climate minister says conditions supporting system may intensify

Migrants in UAE, including Pakistanis, turn to crypto to send remittances home

Ali Muhammad Khan re-arrested in Mardan shortly after being discharged from vandalism case

Kremlin says US can’t tell Saudi Arabia what to do on oil policy

Britain sets price floor on oil and gas windfall tax

Trump faces federal charges in classified documents case, adding to legal woes

Chinese investors flock to Riyadh conference seeking new markets, capital