LCCI Founders Group delegation meets Prime Minister Shehbaz Sharif

ISLAMABAD: A delegation of the Founders Group of the Lahore Chamber of Commerce and Industry (LCCI) met Prime Minister Muhammad Shehbaz Sharif on Saturday. According to The Nation and The News, the meeting was held in Lahore. It discussed the country’s economic situation, the promotion of trade and business, the problems facing industries and the provision of facilities to the business community.

The prime minister described the role of the business community as important in the growth and stability of the economy. He said the government was working with the private sector to promote economic activity and create a favourable environment for business. The meeting also stressed the importance of mutual cooperation to promote industry and trade, increase investment and expand commercial activity.

The delegation briefed the prime minister on the problems of the business community and presented its proposals. The members praised the government’s economic policies and investor-friendly measures. During the discussion, Shehbaz Sharif’s services as president of the Lahore Chamber were also acknowledged.

Federal Minister for Law and Justice Senator Azam Nazeer Tarar, Federal Minister for Information and Broadcasting Attaullah Tarar and Federal Minister for Petroleum Ali Pervaiz Malik also attended the meeting. The delegation included Mian Misbahur Rehman, Farooq Iftikhar, Sheikh Muhammad Asif, Shahzad Malik, Almas Haider, Shahid Hassan Sheikh, Abdul Basit, Mian Tariq Misbah, Kashif Anwar Sheikh and Mian Khalid Misbah.

Addressing a meeting of the Lahore Chamber the same day, Federal Minister for Communications Abdul Aleem Khan stressed measures to reduce industrial production costs. According to The Express Tribune, he said it was extremely difficult to run a business at an interest rate of 25 per cent. He said the loans of affected industries should therefore be rescheduled and banks be directed to consider relief. He said he had sent proposals for reducing production costs to the prime minister.

Abdul Aleem Khan said that when he took charge two and a half years ago, the annual revenue of the National Highway Authority was about Rs66 billion, while this year’s target had been set at Rs160 billion. He said Rs224 billion had been set aside for ongoing projects under the PSDP, a large share of which was for national highways in Balochistan. He mentioned work on a new Lahore-Islamabad route, which would cut the distance from about 380 kilometres to 280 kilometres. The target for completing the Lahore-Khyber motorway is 2027.