Navy team told of national economic well-being
87-member delegation of 45th Course of Pakistan Navy War College visited the Lahore Chamber of Commerce & Industry to get awareness about the role of business community for economic well being of the country.
The LCCI Senior Vice President Almas Hyder Almas Hyder addressed the delegation that was headed by Rear Admiral M. Amjad Khan Niazi. The LCCI Executive Committee Members were also present on the occasion. Almas Hyder said that only economically strong countries could play leading role at global level. Business community of the country is well versed of the fact and utilizing its best abilities for economic uplift of the country. He said that despite having all kinds of resources, we are not there where we should be therefore we have to take full advantage of our best strategic location and vast minerals. The LCCI Senior Vice President shared his expertise with the visiting officers on economic challenges, energy, federal budget, trade deficit, Pak-China Economic Corridor and millennium development goals. He said that Pakistan has the ability, not only become the regional leader but can also play a decisive role at global level.
He said that strong public-private partnership can help surmounting the unprecedented economic challenges being faced by the country. The Lahore Chamber of Commerce and Industry would continue its untiring efforts in this regard. He said that the Lahore Chamber of Commerce and Industry aims to promote trade and investment in the country through enacting upon the policies of the government and securing a business friendly environment in the country. Almas Hyder said that the Lahore Chamber of Commerce and Industry also tries to secure a business-friendly environment through sharing views with the government. The primary objective of LCCI is to protect the interests of the business community while remaining committed to the cause of development of the country.
He said that there are a number of issues that must be tackled on priority, the biggest one is how to keep the momentum of growth in the wake of a less than targeted growth of the Agriculture and the Manufacturing sector. The second one is the widening gap between exports and imports that could be contained by reducing import of luxury items. He said that the cut in the low input cost would make Pakistani products competitive in the international market where Pakistan was loosing the international markets to China, India and even Bangladesh.
He stressed the need for developing regional, product specific and target oriented marketing strategy. New markets and new products need to be explored to reduce country's dependence on few commodities and countries. He said that Pakistan's exports are highly concentrated in few items. Such concentration in few markets can also become a source for instability in export earnings. He said that after through debate that feedback is refined and after approval from Executive Committee is sent in the form of Budget Proposals to Ministry of Finance and Economic Affairs for consideration at the time of preparation of the Federal Budget.