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Access To Global Economic Opportunities Means More Foreign Exchange: LCCI

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LAHORE– Pakistani businessmen would have great access to the global economic opportunities if country secures notable place in the ease of doing index, says Lahore Chamber of Commerce & Industry president.

Almas Hyder in a news statement on Thursday said grabbing international trade opportunities means more foreign exchange for the country.

“Good EODB ranking would also influence positively to the foreign direct investment, domestic businesses, employment generation and revenues of the state.”

Federal Board of Revenue (FBR) has started to play a leading role in this regard and took a number of revolutionary measures, Hyder said.

“What a visionary man Shabbar Zaidi is chosen as Chairman FBR by the government”, the LCCI President said and added that measures like barring FBR officials from conducting raids without approval and stoppage of bank account attachment would play a crucial role for business-friendly atmosphere in the country.

He said that Pakistan can easily take hold of top position in ease of doing business if other departments follow the suit.

Almas Hyder said Pakistan has all resources to become an economic leader. Economic situation will be quite good once ease of doing business is improved in Pakistan.

He said that importance of businesses cannot be undermined for economic development as they provide jobs to the growing population, generate revenue for the government to run the affairs of state and attract foreign investment to the country which not only provides employment but also brings new technologies.

LCCI Senior Vice President Khawaja Shahzad Nasir and Vice President Faheem-ur-Rehman Saigal said that the Lahore Chamber of Commerce & Industry has done a lot of work for ease of doing business.

The LCCI started work on EODB in 2015 and brought this important factor to main streamline. They said that we should utilize all of our energies collectively to become economically strong country.

The LCCI office-bearers said that Pakistan holds 130th ranking in starting a business, 166th in dealing with construction permits, 167th in getting electricity, 161st in registering property, 112th in getting credit, 26th in protecting minority investors, 173rd in paying taxes, 142nd in trading across borders, 156th in enforcing contracts and 53rd in resolving insolvency.— PRESS RELEASE