LAHORE: Federal Minister for Investment Qaiser Ahmed Sheikh visited the Lahore Chamber of Commerce and Industry (LCCI) and held an extensive meeting with LCCI President Faheem-ur-Rehman Saigol, Senior Vice President Tanveer Ahmed Sheikh, Vice President Khurram Lodhi, former presidents Mian Anjum Nisar and Muhammad Ali Mian, office-bearers, and members of the executive committee.
LCCI President Faheem-ur-Rehman Saigol, in his address, warmly welcomed the Minister and appreciated his active engagement with the business community. He expressed confidence that under the leadership of Qaiser Ahmed Sheikh, the Ministry of Investment will play a decisive role in strengthening public-private partnership and accelerating industrial growth.
Speaking at the occasion, Federal Minister Qaiser Ahmed Sheikh commended the Lahore Chamber for being “the most vibrant and active business body in Pakistan.” He appreciated the LCCI’s proactive role in promoting trade and industry and assured the business community that the government is fully committed to addressing their challenges.
He informed the participants that a Facilitation Center has been set up within the Board of Investment (BOI), where representatives from all relevant ministries are available under a one-window operation to ensure swift business approvals and remove bureaucratic hurdles. “All pending business approvals have now been cleared, and we are working to make investment processes easier and faster than ever before,” he said.
Qaiser Ahmed Sheikh announced that new industries established in economic zones will receive 10-year zero-rated import facilities on machinery, making Pakistan more competitive in attracting both domestic and foreign investment. He revealed that a 6,000-acre economic zone near Karachi is under rapid development, offering investors new opportunities in manufacturing, logistics, and exports.
The Minister emphasized that the government’s top priority is to restore business confidence, attract investment, and ensure policy consistency. “We understand that without a thriving private sector, there can be no real economic growth. The government is taking all possible measures to support the business community and bring stability to the investment climate,” he added.
President LCCI gave a detailed briefing on the key challenges faced by traders and industrialists, noting that the cost of doing business in Pakistan has reached unsustainable levels due to high energy tariffs, heavy taxation, and policy uncertainty. He observed that “the country cannot afford additional financial burdens. The FBR’s move to post three officials at every business unit will only create unnecessary harassment and discourage legitimate business activity.”
Highlighting the importance of the private sector in national policymaking, Saigol urged the government to include business leaders in all economic decision-making forums. “The private sector must be treated as a partner, not merely a taxpayer,” he emphasized.
He proposed that, alongside attracting foreign investment, the government should also focus on empowering local entrepreneurs, who continue to sustain the economy despite adverse conditions. “Instead of relying solely on welfare programs like the Benazir Income Support Program, the government should promote investment in small and medium enterprises (SMEs) to create jobs and foster sustainable growth,” he suggested.
He added that true economic revival will come from supporting startups, youth-led ventures, and export-oriented industries. He assured that the business community stands ready to cooperate with the government but requires stable policies, affordable energy, and rational taxation to remain competitive globally.
Expressing optimism, the LCCI President said, “We are confident that Minister Qaiser Ahmed Sheikh, being an experienced businessman himself and former President of the Karachi Chamber, understands our problems better than anyone else. We hope he will personally ensure practical steps to address the issues faced by the business community.”
Former LCCI President Mian Anjum Nisar also highlighted that Pakistan’s industrial sector is under severe pressure due to escalating energy costs, rising taxation, and an unpredictable policy environment. He urged the government to take immediate corrective measures to revive industrial competitiveness and encourage new investments.
LCCI Senior Vice President and Vice President reaffirmed their commitment to strengthening public-private dialogue and promoting Pakistan as a business-friendly investment destination.
Copyright Business Recorder, 2025