LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has started work to prepare a report on the “Ease of doing business in Pakistan”, a statement said on Monday.
The objective of this initiative is to identify the hurdles coming in the way of businesses and to suggest doable solutions to the government, it said.
The decision was made by LCCI Senior Vice President Almas Hyder and endorsed by LCCI President Sheikh Muhammad Arshad and Vice President Nasir Saeed.
The LCCI office-bearer said that the economic signals are not as good as being portrayed. “Ease of doing business in Pakistan averaged 107.63 from 2008 to 2015, reaching an all-time high of 138 in 2015 and low of 85 in 2009, according to a World Bank report,” they said.
The Lahore Chamber had already appealed to the government for the simplification of taxation procedures and expansion in the tax net.
The LCCI president said that the cost of doing business is one of the major hurdles hampering the growth of all sectors of the economy whether it is manufacturing or agriculture.
Arshad said that Pakistani merchandise are the best of the best in the world, but fast losing their due place in the international market because of high input cost in the country.
He said that the proposals would also be incorporated in the LCCI report on “Doing Business in Pakistan” as to how costs could be curtailed in Pakistan without any loss to the revenue.
LCCI Senior Vice President Almas Hyder said that the very objective of the initiative is to give helping hand to the government to expedite economic uplift of the country.
The report would be prepared after due consultation with economists, technocrats and experts, he said.
He said that all sectors of the economy would be covered in the LCCI report on “Ease of doing Business in Pakistan”. The report would be presented to the prime minister and the government departments for evolving an action plan.
Source: The NEWS