LCCI proposes trade with China in local currencies

Staff Reporter BOL News

25th Oct, 2021. 11:45 am

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has suggested doing trade with China in local currencies to reduce pressure on the foreign exchange reserves.

Talking to delegations of Anjuman-e-Tajiran Lahore, Pakistan Steel Melters Association and Ferozepur Road Industrial Association, LCCI president Mian Nauman Kabir said that the chamber has requested the prime minister to withdraw the Federal Board of Revenue’s (FBR) discretionary powers of attachment of bank accounts.

LCCI senior vice president Mian Rehman Aziz Chan and vice president Haris Ateeq also spoke on the occasion.

Kabir has demanded a decreasing price of land in industrial estates. If the land cost is not reduced, he said, the LCCI will establish its own industrial estate.

“[The] LCCI has taken up the issue of property tax with the Punjab chief minister. He (the chief minister) has assured that it will come down to its previous rate,” he added.

The LCCI office-bearers said conducive business environment was necessary for both the government and the business community. Genuine reservations of the business community should be addressed with the consultation of stakeholders, they said, adding that the business community needs special care due to devastation caused by the Covid-19.

They said the tax, infrastructure, traffic, parking plaza, Lesco and high cost of doing business-related issues should be resolved immediately.

Pakistan Steel Melters Association chairman Mian Ahmad Hassan highlighted the issues of high freight rates of shipping companies, their bad attitude towards the business community and demurrage charges.

The delegation members highlighted the issues being faced by their respective sectors and sought the LCCI help for early resolution.

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