Pakistan’s economic interests: Diplomatic community plays significant role: LCCI

LAHORE: President of the Lahore Chamber of Commerce & Industry (LCCI) Faheem Ur Rehman Saigol emphasized that the diplomatic community plays a significant role in advancing Pakistan’s economic interests and effectively representing the business potential of the country across international markets.

He acknowledged the diplomats as the true face of Pakistan in promoting trade linkages and private-sector cooperation.

The diplomatic community in Lahore has expressed strong confidence in the Lahore Chamber of Commerce and Industry (LCCI) for promoting bilateral trade with their respective countries.

During A Dinner hosted in their honour by LCCI, the Honorary Consul Generals unanimously acknowledged that trade bodies are the true representatives of the private sector and their contribution to economic well-being is unparalleled.

LCCI Senior Vice Presdient Tanveer Ahmad Shiekh, Vice President Khurram Lodhi, Vice President SAARC Chamber Mian Anjum Nisar, former Senior Vice President Ali Hassam Asghar, LCCi Executive Committe member were also present on the occasion.

Faheem Ur Rehman Saigol highlighted the need for Pakistan to diversify its exports and access new markets, noting that the government has prioritized high-potential sectors including agriculture, information technology, tourism, and mining.

With nearly 65 percent of the population below the age of 30, Pakistan holds a strong competitive advantage in human resources that can be strengthened through skill development and utilization in global value chains.

He pointed out concerns over the rising trade deficit, which has reached USD 9.37 billion in the first half of the current fiscal year, showing a 34 percent increase compared to the previous year.

Copyright Business Recorder, 2025