LAHORE: Lahore Chamber of Commerce and Industry (LCCI) President Faheem Ur Rehman Saigol on Thursday stressed that economic self-reliance, alongside strong defence, was essential for safeguarding Pakistan’s sovereignty, urging the government to promote industrial production, exports and investment.
Speaking at the flag-hoisting ceremony held at the LCCI to mark the Independence Day of Pakistan, he said the occasion provided an opportunity to renew the national resolve to protect the country’s identity, sovereignty and freedom and strengthen unity.
Terming the Makkah Joint Defence Agreement an important and historic development in cooperation between Pakistan and brotherly Muslim countries, Faheem said it would strengthen mutual trust, defence cooperation and collective security. He said the agreement went beyond defence cooperation and reflected the spirit of unity and a collective commitment among Islamic countries to protect their common interests.
“Strong defence capabilities and professional armed forces, coupled with cooperation with brotherly countries, can play a positive role in promoting regional peace and stability,” he added.
The LCCI president said Pakistan could not achieve complete independence and sovereignty without economic self-reliance, adding that the country needed to increase industrial production, exports and investment while creating more employment opportunities.
He urged the government to improve the business environment, reduce the cost of doing business and ensure policy continuity to enable the private sector to contribute more effectively to economic growth. He said the LCCI would continue to play its role in strengthening the national economy, promoting trade and industry, increasing exports and attracting investment.
Senator Shaheen Khalid Butt said Pakistan’s independence had been achieved through immense sacrifices, stressing that national unity, strong defence and economic development were essential for building a strong and prosperous country. He also described the Makkah Joint Defence Agreement as an important development for cooperation and collective security among Muslim countries.
LCCI Senior Vice President Tanveer Ahmad Sheikh and Vice President Khurram Lodhi also congratulated the nation, urging Pakistanis to contribute to the country’s development and place the national interest above political affiliations.
The ceremony was attended by former LCCI and FPCCI president Mian Anjum Nisar, former LCCI president Muhammad Ali Mian, former senior vice president Engineer Khalid Usman, Nasrullah Mughal and members of the LCCI Executive Committee.
Faheem Ur Rehman Saigol hoisted the national flag along with Tanveer Ahmad Sheikh, Khurram Lodhi and Senator Shaheen Khalid Butt.
Copyright Business Recorder, 2026