LAHORE: President of Pakistan Asif Ali Zardari will be the chief guest at Eighth LCCI Achievement Awards 2012 scheduled for second week of July.

The LCCI Acting President Kashif Younis Meher stated this while addressing a press conference here at Lahore Chamber of commerce and Industry on Tuesday. The LCCI Achievement Awards Committee Convener and former senior Vice President Sheikh Muhammad Arshad, Central also spoke on the occasion.

The LCCI Acting President said that the very objective of this annual event of the Lahore Chamber is to encourage the fast growing business entrepreneurs. He said that this year the event would be unique in the sense that not only more categories are being introduced but its territorial scope is also being widened.

He said that for the selection of businessmen from the other parts of the country the help of their respective chambers would be sought. He said that a new category of "Son of Lahore" is also being included in the Achievement awards while the other categories would be President of Pakistan Trophy, Businessman of the Year, woman Entrepreneur of the Year, LCCI Achievement Award and LCCI Appreciation Awards that would be given to an Agriculture Scientist and two former Presidents of the Lahore Chamber of Commerce and Industry.

Briefing the newsmen about the upcoming event and its background, the LCCI Achievement Awards Committee Convener and former Senior Vice President Sheikh Muhammad Arshad said that in the year 2005, the Lahore Chamber of Commerce and Industry took the initiative to recognise the services of the businessmen of this great City of Lahore who are contributing to the national exchequer in a big way.

He said that this was the beginning of LCCI Achievement Awards and the response was marvelous as not only the business community but the government circles also lauded the LCCI for giving due recognition to the business community of Lahore.

He briefed the journalists about the criterion set for the selection of the award winners. He said that the methodology is very transparent so the right businessmen could be able to win the award. Unveiling the criterion for the applicants is: Investment during the financial year, turnover during financial year, establishment of new units during financial year, percentage increase in export/trade turnover during the last three years, tax paid by the company or group of companies, dividend declared to share holders during financial year and research and Development during financial year.