LAHORE :The Lahore Chamber of Commerce and Industry (LCCI) Saturday called for unity to deal with the grave economic issues being faced by the business community.
Addressing the Kasur Chamber of Commerce and Industry (KCCI) delegation led by its President Kashif Khokhar here at the Lahore Chamber, President Kashif Anwar said, “We need to join hands to resolve the issues that are bound to burst the economic activities.”
LCCI former vice president Zeshan Khalil, Executive Committee members Khadam Hussain, Raja Hassan Akhter, Mian Atiq ur Rehman, KCCI Senior Vice President Haji Muhammad Akram and Vice President Junaid Khokhar were also present.
LCCI President Kashif Anwar called for a re-evaluation of policies, stating that traders are willing to pay taxes but are discouraged by the complexity of the policies. He stressed the need for business-friendly policies to expand the tax base.
He outlined that recent sales tax law changes, including restrictions on cash transactions for manufacturers and mandatory POS (Point Of Sale) registration for those retailers who would conduct official purchase of over Rs 4 million. Besides this, the manufacturing units have been included in the withholding tax, he said, these measures would hinder businesses growth.
He was of the view that digitization without adequate documentation would increase challenges for traders, asserting that devaluation of rupee, issues of inflation and LCs (Letters of Credit), and various regulations are the obstacles facing the business community.
Kashif Anwar congratulated the Kasur Chamber on its formation and highlighted LCCI’s open-door policy and its 40,000-strong membership. He highlighted the LCCI’s initiatives, including weekly tax clinics and extensive work on women empowerment, exemplified by Pakistan’s first Women’s Award.
Announcing the creation of a Lahore-Kasur Liaison Committee, Kashif Anwar emphasized the importance of joint efforts to address the business community issues. He said that there should also be a liaison between Kasur Chamber and those institutions with whom LCCI have inked MoUs. He also underscored the need for collaborative input in skill training programmes.
KCCI President Kashif Khokhar highlighting the significance of cooperation between Lahore and Kasur chambers. He pointed out the challenges faced by Kasur’s cottage industry due to high electricity tariff and invited LCCI leaders to visit the Kasur Chamber to further strengthen ties and support the local businesses.
