The newly elected leadership of the Lahore Chamber of Commerce and Industry (LCCI) today pledged to enhance collaboration with the government to tackle economic challenges and promote sustainable growth.
Addressing a large gathering at the LCCI in the capital, the new office-bearers emphasized the critical role of public-private partnerships in driving the nation’s economic development.
Faheem-ur-Rehman Saigol, the newly elected President of LCCI, alongside Senior Vice President Tanveer Ahmad Sheikh and Vice President Khurram Lodhi, highlighted the necessity of guiding the government on economic issues. Saigol pointed out the success stories of countries like Turkey, China, Singapore, and Malaysia, which have achieved remarkable progress through effective collaboration between the public and private sectors. He expressed optimism that adopting a similar strategy in Pakistan could stabilize the economy, attract significant investment, and create millions of jobs.
The new leadership underscored Pakistan’s growing global significance, noting that promising economic indicators and rising investor confidence necessitate a robust public-private partnership. They assured that LCCI would play a pivotal role in building these frameworks and advancing Pakistan’s development agenda.
Saigol shared positive economic indicators, including the stock market index surpassing 164,000 points and foreign exchange reserves exceeding $19.7 billion. He emphasized that integrating the private sector into policymaking could accelerate economic growth significantly.
Senior Vice President Tanveer Ahmed Sheikh called for the government to engage more closely with the private sector on key issues like tax reforms and energy policies. He noted that over 70% of infrastructure projects worldwide involve public-private partnerships, urging Pakistan to adopt this model promptly.
Vice President Khurram Lodhi stressed LCCI’s commitment to enhancing Pakistan’s trade presence globally. He advocated for closer coordination between the public and private sectors to boost investment, exports, and innovation.
Outgoing President Mian Abuzar Shad reviewed LCCI’s performance over the past year, highlighting the chamber”s efforts in promoting industry and trade. The meeting was attended by numerous Executive Committee members, former presidents, trade body leaders, and market representatives.