Says despite adverse circumstances, business sector has remained committed to development
Punjab Governor Sardar Saleem Haider on Thursday acknowledged the vital contributions of the business community to Pakistan’s economic progress saying that their dedication in challenging times have been instrumental in sustaining the national economy.
Addressing at the Lahore Chamber of Commerce and Industry, Governor Punjab said that despite adverse circumstances, the business sector has remained committed to the country’s development. However, he pointed out that the existing business environment does not provide the necessary support and stability required for sustainable growth. He assured that the concerns raised by LCCI regarding high electricity and gas tariffs, as well as supply shortages, would be conveyed to President Asif Ali Zardari and Prime Minister Shehbaz Sharif. He further added that the federal government is keen on reducing energy costs and improving business conditions.
LCCI President Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman, Vice President SAARC Chamber Mian Anjum Nisar and former President Muhammad Ali Mian also spoke on the occasion.
The Governor said that the business community has always demonstrated unwavering commitment to the nation, even during challenging times. I do not just represent the federal government but also the business sector,” he said. He agreed with LCCI’s stance on the high electricity and gas prices, coupled with unreliable supply, which are hampering industrial growth.
Governor Punjab pointed out that countries like Bangladesh, India, Nepal and Sri Lanka, once lagging behind Pakistan, have now surged ahead. He added that President Asif Ali Zardari and Bilawal Bhutto Zardari are keen on reducing energy costs. He pledged to convey LCCI’s recommendations to the President and Prime Minister and ensured that business consultations would be incorporated into the budget planning.
He also acknowledged the excessive tax burden on businesses and stressed the need for revision.
“The government must take concrete steps to improve the business climate. We need greater efforts and a clear vision for economic progress.
It is encouraging to see political stability improving and inflation decreasing. The reduction in interest rates and the rise in the stock market are positive signs,” he added.