ContentsLahore Chamber News June - July

June 2018 - July 2018 Issue No. 06-07

The Lahore Chamber of Commerece & Industry11 Shara-e-Aiwan-e-Sanat-o-Tijarat, Lahore Pakistan. Tel: 042-36305538-40 UAN: 111-222-499 Ext: 361 Fax: 042-36368854 Email: lcn@lcci.com.pk

Website: www.lcci.com.pk

Malik Tahir JavaidPresident

Khawaja Khawar RashidSenior Vice President

Zeshan KhalilVice President

Shahid KhalilEditor

Rashid YaqoobDeputy Editor

Humayun SardarManager Marketing

8Punjab

Caretaker cabinet visit LCCI

10LCCI Ambassadors

Dinner 2018

22Tax Amnesty Scheme 2018

last chance

24LCCI terms massivehike in POL prices

blackmailing

25LCCI, PCBC ink

MOU expand Pak-Canada trade

26IPRs should

be a part of businesses

27LCCI for

industry-friendlymeasures

28LCCI seeks SBP’s

help against fake currency

29Open letter to CJ and COAS By Abdul Basit

30LCCI flays

EDE agreement with China

31Our National Integrity

And InfrastructureBy Kashif Anwar

37Urdu Press

Release

ContentsLahore Chamber News June - July

June 2018 - July 2018 Issue No. 06-07

The Lahore Chamber of Commerece & Industry11 Shara-e-Aiwan-e-Sanat-o-Tijarat, Lahore Pakistan. Tel: 042-36305538-40 UAN: 111-222-499 Ext: 361 Fax: 042-36368854 Email: lcn@lcci.com.pk

Website: www.lcci.com.pk

Malik Tahir JavaidPresident

Khawaja Khawar RashidSenior Vice President

Zeshan KhalilVice President

Shahid KhalilEditor

Rashid YaqoobDeputy Editor

Humayun SardarManager Marketing

8Punjab

Caretaker cabinet visit LCCI

10LCCI Ambassadors

Dinner 2018

22Tax Amnesty Scheme 2018

last chance

24LCCI terms massivehike in POL prices

blackmailing

25LCCI, PCBC ink

MOU expand Pak-Canada trade

26IPRs should

be a part of businesses

27LCCI for

industry-friendlymeasures

28LCCI seeks SBP’s

help against fake currency

29Open letter to CJ and COAS By Abdul Basit

30LCCI flays

EDE agreement with China

31Our National Integrity

And InfrastructureBy Kashif Anwar

37Urdu Press

Release

n a rare interaction with pri-vate sector, the Punjab Cabinetexpressed the resolve to workhand in hand with businesscommunity to ensure econom-ic growth.

Members of the Cabinetdelegation, led by Caretakerfinance Minister Syed HaiderRizvi, were speaking at theLahore Chamber of Commerce& Industry. The LCCIPresident Malik Tahir Javaid,Vice President Zeshan Khalil,representatives of PunjabChambers also spoke on theoccasion while CaretakerMinister for Industry MianAnjum Nisar, CaretakerMinister for Energy &Irrigation Zafar Mahmood,

Caretaker Minister for Labor,Transport & Livestock

MianNauman Kabir, CaretakerInterior Minister ShaukatJaved, Caretaker Minister forAgriculture Sardar TanveerIlyas Khan, Caretaker Ministerfor Housing Saeedullah Baberand Caretaker Minister forHuman Rights & MinoritiesChaudhry Faisal Mushtaq werethe other members of theCabinet delegation.

Provincial CaretakerMinister for Finance Syed ZiaHaiderRizvi said that trade andindustry is the major areas tofocus for the Punjab govern-ment. He said that a mecha-nism has been evolved to runthe affairs smoothly. Federalgovernment has been asked to

I PresidentLCCI

termed the visitof Punjab Cabinetto the LahoreChamber ofCommerce &Industry a 'historicmoment' and bestexample of thepublic-privatepartnership.”

Punjab Caretaker

cabinet visit LCCI

The President LCCIMalik Tahir Javaid, VicePresident Zeshan Khalilin a group photo withPunjab CaretakerCabinet during theirvisit to LCCI.

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give share to Punjab in taxes on petroleum and othergoods that are being consumed in this province. "We aredoing what we can to resolve the issues of the business-men of Punjab as they are backbone of the economy",Syed Zia HaiderRizvi said and added that harassment tobusiness community is not acceptable. He said that care-taker government of Punjab wants to develop a roadmapfor the upcoming government.

The LCCI President Malik TahirJavaid termed thevisit of Punjab Cabinet to the Lahore Chamber ofCommerce & Industry a historic moment and bestexample of the public-private partnership. He said thatPunjab is considered the linchpin of Pakistan's economyand it has highest contribution in the GDP of the coun-try. The economic growth of Pakistan heavily dependson the economic performance of Punjab. He said thatElection Commission of Pakistan bars the caretakerGovernment from taking any major policy decisions butthe current system does give the caretaker Ministerssome room to lay out important guidelines for the futureGovernments in terms of making the public sectorprocesses more efficient and business friendly. He saidthat issues of double taxation, misuse of discretionarypowers, lack of pro-business attitude or harassment,weak implementation of policies, lengthy procedures,delaying tactics, encroachment, and parking issues etcshould be resolved at the earliest. On demand of theLCCI President, Provincial Cabinet agreed to estab-

lished LDA Facilitation Desk at the Lahore Chamber ofCommerce & Industry.

MianAnjumNisar though caretaker government isfor a limited time but is playing facilitation role for thebusiness community. He said that the issues of LESO,unscheduled load shedding, low gas pressure, establish-ment of new industrial estates and cost of doing busi-ness have been raised. He said that stakeholders must betaken on board in policy formation while trust buildingof local investors is need of the hour. He said that LDArelated issues should be resolved and industrial areasshould not be sacrificed to the residential colonies. He

also called for early settlement of refunds.ZafarMahmood said that water and power are the

subjects of federal government. Our responsibility isjustified distribution. He said that proposals of businesscommunity would always be welcomed.

MianNaumanKabir said that 7 to 8 thousands pend-ing cases of Social Security would be resolved throughformation of Alternate Dispute Resolution Committee.Strategy is being evolved regarding parking plazas. Hesaid that 90% poultry products and around 60% meat isbeing produced in Punjab. He invited the private sectorto invest livestock sector.

Interior Minister ShaukatJaved said that good lawand order situation is a must for economic developmentof any country. Punjab government is taking all possiblemeasures in this regard.

SardarTanveerIlyas Khan said that majority ofPunjab cabinet members are from the business commu-nity and it is a rare opportunity for the private sector toavail benefit. He saidthat Punjab caretakergovernment is commit-ted to serve the businesscommunity.

Saeedullah Babersaid that LDA, WASAand PHA related issuesof business communitymust be resolved at theearliest and businesscommunity should notbe facing cumbersomeprocedures. He also suggested formation of a body totackle these issues on priority.

Chaudhry Faisal Mushtaq called for good policiesfor social welfare and BaitulMaal. He said that protec-tion of Human Rights is also important for economy asit is demand of the EU GSP Plus Scheme. He said thatorganizations working in social sector are being encour-aged.

Former LCCI Presidents Mian Shafqat Ali, SohailLashari, former Vice President Syed MahmoodGhaznavi were also present in the meeting.

Good lawand order

situation is amust foreconomicdevelopment ofany country.”

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n a rare interaction with pri-vate sector, the Punjab Cabinetexpressed the resolve to workhand in hand with businesscommunity to ensure econom-ic growth.

Members of the Cabinetdelegation, led by Caretakerfinance Minister Syed HaiderRizvi, were speaking at theLahore Chamber of Commerce& Industry. The LCCIPresident Malik Tahir Javaid,Vice President Zeshan Khalil,representatives of PunjabChambers also spoke on theoccasion while CaretakerMinister for Industry MianAnjum Nisar, CaretakerMinister for Energy &Irrigation Zafar Mahmood,

Caretaker Minister for Labor,Transport & Livestock

MianNauman Kabir, CaretakerInterior Minister ShaukatJaved, Caretaker Minister forAgriculture Sardar TanveerIlyas Khan, Caretaker Ministerfor Housing Saeedullah Baberand Caretaker Minister forHuman Rights & MinoritiesChaudhry Faisal Mushtaq werethe other members of theCabinet delegation.

Provincial CaretakerMinister for Finance Syed ZiaHaiderRizvi said that trade andindustry is the major areas tofocus for the Punjab govern-ment. He said that a mecha-nism has been evolved to runthe affairs smoothly. Federalgovernment has been asked to

I PresidentLCCI

termed the visitof Punjab Cabinetto the LahoreChamber ofCommerce &Industry a 'historicmoment' and bestexample of thepublic-privatepartnership.”

Punjab Caretaker

cabinet visit LCCI

The President LCCIMalik Tahir Javaid, VicePresident Zeshan Khalilin a group photo withPunjab CaretakerCabinet during theirvisit to LCCI.

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give share to Punjab in taxes on petroleum and othergoods that are being consumed in this province. "We aredoing what we can to resolve the issues of the business-men of Punjab as they are backbone of the economy",Syed Zia HaiderRizvi said and added that harassment tobusiness community is not acceptable. He said that care-taker government of Punjab wants to develop a roadmapfor the upcoming government.

The LCCI President Malik TahirJavaid termed thevisit of Punjab Cabinet to the Lahore Chamber ofCommerce & Industry a historic moment and bestexample of the public-private partnership. He said thatPunjab is considered the linchpin of Pakistan's economyand it has highest contribution in the GDP of the coun-try. The economic growth of Pakistan heavily dependson the economic performance of Punjab. He said thatElection Commission of Pakistan bars the caretakerGovernment from taking any major policy decisions butthe current system does give the caretaker Ministerssome room to lay out important guidelines for the futureGovernments in terms of making the public sectorprocesses more efficient and business friendly. He saidthat issues of double taxation, misuse of discretionarypowers, lack of pro-business attitude or harassment,weak implementation of policies, lengthy procedures,delaying tactics, encroachment, and parking issues etcshould be resolved at the earliest. On demand of theLCCI President, Provincial Cabinet agreed to estab-

lished LDA Facilitation Desk at the Lahore Chamber ofCommerce & Industry.

MianAnjumNisar though caretaker government isfor a limited time but is playing facilitation role for thebusiness community. He said that the issues of LESO,unscheduled load shedding, low gas pressure, establish-ment of new industrial estates and cost of doing busi-ness have been raised. He said that stakeholders must betaken on board in policy formation while trust buildingof local investors is need of the hour. He said that LDArelated issues should be resolved and industrial areasshould not be sacrificed to the residential colonies. He

also called for early settlement of refunds.ZafarMahmood said that water and power are the

subjects of federal government. Our responsibility isjustified distribution. He said that proposals of businesscommunity would always be welcomed.

MianNaumanKabir said that 7 to 8 thousands pend-ing cases of Social Security would be resolved throughformation of Alternate Dispute Resolution Committee.Strategy is being evolved regarding parking plazas. Hesaid that 90% poultry products and around 60% meat isbeing produced in Punjab. He invited the private sectorto invest livestock sector.

Interior Minister ShaukatJaved said that good lawand order situation is a must for economic developmentof any country. Punjab government is taking all possiblemeasures in this regard.

SardarTanveerIlyas Khan said that majority ofPunjab cabinet members are from the business commu-nity and it is a rare opportunity for the private sector toavail benefit. He saidthat Punjab caretakergovernment is commit-ted to serve the businesscommunity.

Saeedullah Babersaid that LDA, WASAand PHA related issuesof business communitymust be resolved at theearliest and businesscommunity should notbe facing cumbersomeprocedures. He also suggested formation of a body totackle these issues on priority.

Chaudhry Faisal Mushtaq called for good policiesfor social welfare and BaitulMaal. He said that protec-tion of Human Rights is also important for economy asit is demand of the EU GSP Plus Scheme. He said thatorganizations working in social sector are being encour-aged.

Former LCCI Presidents Mian Shafqat Ali, SohailLashari, former Vice President Syed MahmoodGhaznavi were also present in the meeting.

Good lawand order

situation is amust foreconomicdevelopment ofany country.”

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LCCIAmbAssAdors dINNEr

2018resident of Pakistan MamnoonHussain has said that despite allodds, Pakistan is moving towardsprogress which shows its God-gifted immense potential andabilities.President of Pakistan expressedthese views while speaking at theLCCI Ambassadors' Dinner 2018.The LCCI President Malik TahirJavaid, Vice President ZeshanKhalil, Ambassador ofTurkmenistan to Pakistan and Deanof Diplomatic Corps AtajanMovlamov also spoke on the occa-sion. Ambassadors & representa-tives of over 50 countries and highgovernment officials attended thisprestigious ceremony.President LCCI Malik Tahir Javaidin his speech said,HE. Mamnoon hussain President ofIslamic Republic of PakistanExcellencies & Diplomats, worthycolleagues, Ladies & Gentlemen

Assalam-o-Alaikum and a verygood evening.

I welcome you all at the presti-gious function of the LahoreChamber of Commerce & Industry.I am deeply indebted to HisExcellency Mamnoon Hussain,

President, Islamic Republic ofPakistan for accepting our requestto be the Chief Guest at thisremarkable get-to-gather. We arealso thankful to the Dean ofDiplomatic Corps: H.E. AtajanMovlamov, Ambassador ofTurkmenistan to Pakistan, for hisextensive cooperation and assis-

tance for holding this importantevent in a befitting manner.

We always take great pride inour relations with the foreign diplo-matic community because we fullyappreciate their role in developingbetter diplomatic, social and eco-

nomic relations between Pakistanand their respective countries.

Before I express my thoughtsabout this function, I would like todraw you attention to a seriousissue. The decision taken byFinancial Action Task Force forplacing Pakistan on 'Grey List' hasshocked the whole nation. You

would also be surprised on it asyou all know that Pakistan has paida very heavy price in terms ofhuman lives and economic regres-sion for playing leading and activerole in war against terror. Ourforces are still engaged in

President Mamnoon Hussain, diplomats of over 50 countries attend

P

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curbing all the elements which aredirectly or indirectly involved in terror-ism.

We expect that government willsoon come up with an action plan fortaking necessary measures to implementanti-money laundering regulations. It isneed of the hour to plug all the deficien-cies while being fully compliant to inter-national conventions. I appeal to all thefriendly countries of Pakistan that youmust support us in this connection.

Pakistan's Economy has emerged asone of the best performing economies inthe region. Government is bent towardsreviving agricultural growth in Pakistan.There is significant untapped potentialfor growth and employment creationassociated with diversification towardshigh-value agriculture. Pakistan hasproven comparative advantage in certainhorticultural and livestock products inglobal and regional export markets.

There is a huge potential to narrow yieldgaps and improve enabling environmentfor post-harvest value-addition and agro-processing.

I also want to draw the attention ofworthy guests towards the untappedpotential in our agriculture sector.Pakistan has more than 7% of world'stotal cultivable land whereas it housesalmost 2% of the total population of theworld. Pakistan can produce a lot offood stuff for the world, for which werequire modern technology so that byway of using fertilizers, pesticides, agri-culture machinery, and high yield seeds,the per acre production can be enhanced.I request all the worthy diplomats tocooperate with us in this connection sothat we could increase our contributionin global food basket.

We are undergoing IndustrialRevolution where the existing and futuretechnologies are becoming embedded insocieties and humans beings. The newtechnologies are impacting all disciplines

of our life. It is the right time to invest inthe future of Pakistan and LCCI is theright forum for paving the way of inno-vation and skill development.

Pakistan is located in close proximi-ty to high growth potential economies inthe Arabian Gulf and Central AsianRepublics. The neighbouring countriesare taking keen interest in investing inPakistan which is all set to become aregional trade and energy corridor.

Pakistan is an attractive destinationfor Halal Food, Basmati Rice, Fisheries,Marbles, Pharmaceuticals, HomeAppliances and Light EngineeringProducts especially auto industry due toits phenomenal growth on account offollowing the intensive deletion plan. Itis high time for Pakistan's economy toget a boost not by getting aids from for-eign countries but by securing sufficientshare in global economy through initiat-ing joint ventures.

Besides, Pakistan offers a wide spec-trum of tourism ranging from religiousto historical places and ancient civiliza-tions to modern architecture. The land-scape of Pakistan has everything one canwish to see - mountains, valleys, rivers,seaside, deserts and open fields etc. Ourculture is so rich and has so many diver-sities that make Pakistan stand outamong the top tourist destinationsaround the globe.

I would also like to talk about Easeof Doing Business Index. TodayPakistan stands at 147th place. LCCI hasextensively worked on making proposalsto improve this index and is activelyengaged with provincial and federal gov-ernments. The target is to bring Pakistanaround the index of 50 within next threeyears. It is the result of our efforts thatBoard of Investment has launched anaccelerated Doing Business 100 DaysSprint plan to establish a Doing BusinessReform Secretariat charged with theresponsibility to implement remaining

reforms and improve the country'sDoing Business ranking by 2019.

According to an investment surveyreleased by the Overseas InvestorsChamber of Commerce and Industry,nearly 75% of respondents considerPakistan a potential market for freshinvestment. I would like you to sharethis positive tendency with relevantinvestors in your countries. Pakistan isready for business. Relation building isan imperative part of our agenda thisevening. Lahore Chamber is known asan important destination of the appointedambassadors in Pakistan. This institutionhas always tried to play a vital role inestablishing trade ties with other coun-tries. Holding of this dinner is a stepahead of the same agenda.

We request our friends from theinternational diplomatic communitypresent here to project a soft and realimage of Pakistan in their countries. Wealso request the international media toportray a positive image of Pakistan. Foryour respective countries and investors,you are the most authentic source of ver-ifying the facts and we look forward toyou for an impartial opinion.

We firmly believe that trade is key tocontinuous economic growth andimprovement in the standards of living.Your kind support is required to achieveour international trade ambitions. It isneedless to mention that the role ofheads of foreign missions will be of keyimportance in this regard. We look for-ward towards friends of Pakistan to getto the stage where we can achieve win-win situation.

For that purpose, we have toexchange trade delegations on regularbasis and allow our businessmen tofreely interact with each other. The ideaof holding single country exhibitions onreciprocal basis can create awarenessabout our respective strong areas. I haveto emphasize that liberalized visa regimecan greatly contribute to achieve theseobjectives. With these observations andsuggestions, I would like to conclude byexpressing my deepest regards, apprecia-tion and gratitude to all the honourableguests for responding very positively tous.

Thank you so much.

FATF decision to put Pakistan on 'Grey List' is unfair asPakistan has paid heavy price in terms of human livesand economic regression due to playing leading andactive role in war against terror. Our forces are stillengaged in curbing all the elements involved interrorism: Malik Tahir Javaid President LCCI

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LCCIAmbAssAdors dINNEr

2018resident of Pakistan MamnoonHussain has said that despite allodds, Pakistan is moving towardsprogress which shows its God-gifted immense potential andabilities.President of Pakistan expressedthese views while speaking at theLCCI Ambassadors' Dinner 2018.The LCCI President Malik TahirJavaid, Vice President ZeshanKhalil, Ambassador ofTurkmenistan to Pakistan and Deanof Diplomatic Corps AtajanMovlamov also spoke on the occa-sion. Ambassadors & representa-tives of over 50 countries and highgovernment officials attended thisprestigious ceremony.President LCCI Malik Tahir Javaidin his speech said,HE. Mamnoon hussain President ofIslamic Republic of PakistanExcellencies & Diplomats, worthycolleagues, Ladies & Gentlemen

Assalam-o-Alaikum and a verygood evening.

I welcome you all at the presti-gious function of the LahoreChamber of Commerce & Industry.I am deeply indebted to HisExcellency Mamnoon Hussain,

President, Islamic Republic ofPakistan for accepting our requestto be the Chief Guest at thisremarkable get-to-gather. We arealso thankful to the Dean ofDiplomatic Corps: H.E. AtajanMovlamov, Ambassador ofTurkmenistan to Pakistan, for hisextensive cooperation and assis-

tance for holding this importantevent in a befitting manner.

We always take great pride inour relations with the foreign diplo-matic community because we fullyappreciate their role in developingbetter diplomatic, social and eco-

nomic relations between Pakistanand their respective countries.

Before I express my thoughtsabout this function, I would like todraw you attention to a seriousissue. The decision taken byFinancial Action Task Force forplacing Pakistan on 'Grey List' hasshocked the whole nation. You

would also be surprised on it asyou all know that Pakistan has paida very heavy price in terms ofhuman lives and economic regres-sion for playing leading and activerole in war against terror. Ourforces are still engaged in

President Mamnoon Hussain, diplomats of over 50 countries attend

P

10

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curbing all the elements which aredirectly or indirectly involved in terror-ism.

We expect that government willsoon come up with an action plan fortaking necessary measures to implementanti-money laundering regulations. It isneed of the hour to plug all the deficien-cies while being fully compliant to inter-national conventions. I appeal to all thefriendly countries of Pakistan that youmust support us in this connection.

Pakistan's Economy has emerged asone of the best performing economies inthe region. Government is bent towardsreviving agricultural growth in Pakistan.There is significant untapped potentialfor growth and employment creationassociated with diversification towardshigh-value agriculture. Pakistan hasproven comparative advantage in certainhorticultural and livestock products inglobal and regional export markets.

There is a huge potential to narrow yieldgaps and improve enabling environmentfor post-harvest value-addition and agro-processing.

I also want to draw the attention ofworthy guests towards the untappedpotential in our agriculture sector.Pakistan has more than 7% of world'stotal cultivable land whereas it housesalmost 2% of the total population of theworld. Pakistan can produce a lot offood stuff for the world, for which werequire modern technology so that byway of using fertilizers, pesticides, agri-culture machinery, and high yield seeds,the per acre production can be enhanced.I request all the worthy diplomats tocooperate with us in this connection sothat we could increase our contributionin global food basket.

We are undergoing IndustrialRevolution where the existing and futuretechnologies are becoming embedded insocieties and humans beings. The newtechnologies are impacting all disciplines

of our life. It is the right time to invest inthe future of Pakistan and LCCI is theright forum for paving the way of inno-vation and skill development.

Pakistan is located in close proximi-ty to high growth potential economies inthe Arabian Gulf and Central AsianRepublics. The neighbouring countriesare taking keen interest in investing inPakistan which is all set to become aregional trade and energy corridor.

Pakistan is an attractive destinationfor Halal Food, Basmati Rice, Fisheries,Marbles, Pharmaceuticals, HomeAppliances and Light EngineeringProducts especially auto industry due toits phenomenal growth on account offollowing the intensive deletion plan. Itis high time for Pakistan's economy toget a boost not by getting aids from for-eign countries but by securing sufficientshare in global economy through initiat-ing joint ventures.

Besides, Pakistan offers a wide spec-trum of tourism ranging from religiousto historical places and ancient civiliza-tions to modern architecture. The land-scape of Pakistan has everything one canwish to see - mountains, valleys, rivers,seaside, deserts and open fields etc. Ourculture is so rich and has so many diver-sities that make Pakistan stand outamong the top tourist destinationsaround the globe.

I would also like to talk about Easeof Doing Business Index. TodayPakistan stands at 147th place. LCCI hasextensively worked on making proposalsto improve this index and is activelyengaged with provincial and federal gov-ernments. The target is to bring Pakistanaround the index of 50 within next threeyears. It is the result of our efforts thatBoard of Investment has launched anaccelerated Doing Business 100 DaysSprint plan to establish a Doing BusinessReform Secretariat charged with theresponsibility to implement remaining

reforms and improve the country'sDoing Business ranking by 2019.

According to an investment surveyreleased by the Overseas InvestorsChamber of Commerce and Industry,nearly 75% of respondents considerPakistan a potential market for freshinvestment. I would like you to sharethis positive tendency with relevantinvestors in your countries. Pakistan isready for business. Relation building isan imperative part of our agenda thisevening. Lahore Chamber is known asan important destination of the appointedambassadors in Pakistan. This institutionhas always tried to play a vital role inestablishing trade ties with other coun-tries. Holding of this dinner is a stepahead of the same agenda.

We request our friends from theinternational diplomatic communitypresent here to project a soft and realimage of Pakistan in their countries. Wealso request the international media toportray a positive image of Pakistan. Foryour respective countries and investors,you are the most authentic source of ver-ifying the facts and we look forward toyou for an impartial opinion.

We firmly believe that trade is key tocontinuous economic growth andimprovement in the standards of living.Your kind support is required to achieveour international trade ambitions. It isneedless to mention that the role ofheads of foreign missions will be of keyimportance in this regard. We look for-ward towards friends of Pakistan to getto the stage where we can achieve win-win situation.

For that purpose, we have toexchange trade delegations on regularbasis and allow our businessmen tofreely interact with each other. The ideaof holding single country exhibitions onreciprocal basis can create awarenessabout our respective strong areas. I haveto emphasize that liberalized visa regimecan greatly contribute to achieve theseobjectives. With these observations andsuggestions, I would like to conclude byexpressing my deepest regards, apprecia-tion and gratitude to all the honourableguests for responding very positively tous.

Thank you so much.

FATF decision to put Pakistan on 'Grey List' is unfair asPakistan has paid heavy price in terms of human livesand economic regression due to playing leading andactive role in war against terror. Our forces are stillengaged in curbing all the elements involved interrorism: Malik Tahir Javaid President LCCI

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LCCI Ambassadors dinner 2018 LCCI Ambassadors dinner 2018

LCCI Ambassadors dinner 2018 LCCI Ambassadors dinner 2018

LCCI Ambassadors dinner 2018 LCCI Ambassadors dinner 2018

LCCI Ambassadors dinner 2018 LCCI Ambassadors dinner 2018

LCCI Ambassadors dinner 2018 LCCI Ambassadors dinner 2018

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LCCI Ambassadors dinner 2018 LCCI Ambassadors dinner 2018

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LCCI Ambassadors dinner 2018 LCCI Ambassadors dinner 2018

LCCI Ambassadors dinner 2018 LCCI Ambassadors dinner 2018

LCCI Ambassadors Dinner 2018

President of Islamic Republic of Pakistan H.E Mamnoon Hussain and Caretaker Federal Minister for Commerce, Textile & IndustryProduction Mian Misbah-ur-Rehman with President LCCI Malik Tahir Javaid, Vice President Zeeshan Khalil, Executive Committee Members

Abdul Basit (immediate past President), Mian Tariq Misbah, Ali Hussam Asghar, Muhammad Wasim, Moazzam Rasheed, Malik KaleemAhmed, Muhammad Naeem Hanif, Sheikh Zafar Iqbal, Dr Shahid Raza, Arshad Chaudhry, Muhammad Khaleeque Arshad, Former EC

member Zafar Mehmood and Envoys on the occasion of LCCI Ambassadors Dinner.

LCCI Ambassadors Dinner 2018

President of Islamic Republic of Pakistan H.E Mamnoon Hussain and Caretaker Federal Minister for Commerce, Textile & IndustryProduction Mian Misbah-ur-Rehman with President LCCI Malik Tahir Javaid, Vice President Zeeshan Khalil, Executive Committee Members

Abdul Basit (immediate past President), Mian Tariq Misbah, Ali Hussam Asghar, Muhammad Wasim, Moazzam Rasheed, Malik KaleemAhmed, Muhammad Naeem Hanif, Sheikh Zafar Iqbal, Dr Shahid Raza, Arshad Chaudhry, Muhammad Khaleeque Arshad, Former EC

member Zafar Mehmood and Envoys on the occasion of LCCI Ambassadors Dinner.

LCCI Ambassadors Dinner 2018

President of Islamic Republic of Pakistan H.E Mamnoon Hussain and Caretaker Federal Minister for Commerce, Textile & IndustryProduction Mian Misbah-ur-Rehman with President LCCI Malik Tahir Javaid, Vice President Zeeshan Khalil, Executive Committee Members

Abdul Basit (immediate past President), Mian Tariq Misbah, Ali Hussam Asghar, Muhammad Wasim, Moazzam Rasheed, Malik KaleemAhmed, Muhammad Naeem Hanif, Sheikh Zafar Iqbal, Dr Shahid Raza, Arshad Chaudhry, Muhammad Khaleeque Arshad, Former EC

member Zafar Mehmood and Envoys on the occasion of LCCI Ambassadors Dinner.

LCCI Ambassadors Dinner 2018

President of Islamic Republic of Pakistan H.E Mamnoon Hussain and Caretaker Federal Minister for Commerce, Textile & IndustryProduction Mian Misbah-ur-Rehman with President LCCI Malik Tahir Javaid, Vice President Zeeshan Khalil, Executive Committee Members

Abdul Basit (immediate past President), Mian Tariq Misbah, Ali Hussam Asghar, Muhammad Wasim, Moazzam Rasheed, Malik KaleemAhmed, Muhammad Naeem Hanif, Sheikh Zafar Iqbal, Dr Shahid Raza, Arshad Chaudhry, Muhammad Khaleeque Arshad, Former EC

member Zafar Mehmood and Envoys on the occasion of LCCI Ambassadors Dinner.

hairman Federal Board ofRevenue Tariq MahmoodPasha has said Tax AmnestyScheme 2018 is last chanceto legalize undeclared assetstherefore it must be availedby the business community.

He was speaking at theLahore Chamber ofCommerce & Industry. The

LCCI President MalikTahirJavaid, Vice PresidentZeshan Khalil, ProvincialFinance Minister Syed ZiaHaiderRizvi, former LCCIpresident Mian MuhammadAshraf, former Vice PresidentKashif Anwar and Executive

Committee Members alsospoke on the occasion.

Chairman FBR urged thebusiness community to availbenefits of Tax AmnestyScheme 2018 as it is a lastchance to legalize undeclaredassets. He said that it wouldincrease tax revenue, enhanceforeign exchange reserves,

reduce the current accountdeficit, improve balance ofpayments, bring foreign capi-tal to Pakistan and enhanceeconomic activities.

Chairman FBR said thatbusiness community is themajor part of economic sys-

tem and it should be givenrespect and honor by the taxcollection machinery. He saidthat issues of refunds arebeing resolved swiftly. Hesaid that this year Sales TaxRefunds of Rs.102 billionhave been paid against Rs. 54billion in last year. He saidthat the issue of Sales TaxRefunds will be abolishedwithin two years. Because oflack of resource, collectivepayment of Income Tax andSales Tax Refunds is not pos-sible but definitely there is agood improvement.

About alternative DisputeResolution Mechanism, TariqMahmood Pasha said that thelist will be prepared by FBRwhile representatives will bechosen by the business com-munity and all stakeholders

C

The business community is the majorpart of the economic system and it

should be given respect and honour by thetax collection machinery, ChairmanFederal Board of Revenue

‘Tax Amnesty scheme2018 last chance’

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will be bound to accept the decision of the committee. Hesaid that repeated audit were causing difficulties for thebusiness community but now only one audit will be heldin three years. This move will help get rid ofthe misuse of discretionary powers by the taxmachinery. He said that Regulatory Duty hasbeen reduced or abolished on various items inthe recent budget. He said that import of thoseitems should be discouraged that are beingproduced locally.

The LCCI President Malik TahirJavaid saidthat The Lahore Chamber of Commerce &Industry welcomes Tax Amnesty Scheme 2018which allows legalizing undeclared assets bypaying income tax from 2pc to 5pc. The gov-ernment should extend its deadline for at leastone month.

He said that the policy of imposing regula-tory duties even on the items which are not

produced locally has made local productionunviable. There should be no regulatory dutyon raw materials which are not available inPakistan.

The LCCI President said that there are dif-ferent rates of sales tax for traders, manufac-turers and commercial importers etc., whichcreates certain ambiguities. We propose thatthere should be uniform percentage of sales taxfor all. He said that there is a dire need of har-monization among the provincial and federaltax collecting agencies. Due to double taxa-tion, the members of business community facea lot of issues.

He said that the number of taxes and fre-quency of paying taxes should be reduced. The system ofthe tax department should be reformed to encourage the new tax payers. He said that withholding Tax on Cash

Withdrawal was fully opposed by Lahore Chamber and itshould abolished on emergent basis.

"We propose that all the backlog of refunds should be

cleared within two months uponthe filing of return. The meetingsfor determination of CustomsValuation should also be arrangedin Lahore while empowering theCollectorate Office with an author-ity to take independent decisions",Malik TahirJavaid suggested andsaid Alternative DisputeResolution Mechanism should bestrengthened by FBR as it is inex-pensive, swift, and also eliminatespossibility of rent seeking.

The LCCI President said thatsome manufacturers supply ciga-rettes without paying any kind of

taxes to the markets at much lower price which dis-courages the formal sector of economy. FBR must takeaction against them as it is a loss to national exchequeras well.

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hairman Federal Board ofRevenue Tariq MahmoodPasha has said Tax AmnestyScheme 2018 is last chanceto legalize undeclared assetstherefore it must be availedby the business community.

He was speaking at theLahore Chamber ofCommerce & Industry. The

LCCI President MalikTahirJavaid, Vice PresidentZeshan Khalil, ProvincialFinance Minister Syed ZiaHaiderRizvi, former LCCIpresident Mian MuhammadAshraf, former Vice PresidentKashif Anwar and Executive

Committee Members alsospoke on the occasion.

Chairman FBR urged thebusiness community to availbenefits of Tax AmnestyScheme 2018 as it is a lastchance to legalize undeclaredassets. He said that it wouldincrease tax revenue, enhanceforeign exchange reserves,

reduce the current accountdeficit, improve balance ofpayments, bring foreign capi-tal to Pakistan and enhanceeconomic activities.

Chairman FBR said thatbusiness community is themajor part of economic sys-

tem and it should be givenrespect and honor by the taxcollection machinery. He saidthat issues of refunds arebeing resolved swiftly. Hesaid that this year Sales TaxRefunds of Rs.102 billionhave been paid against Rs. 54billion in last year. He saidthat the issue of Sales TaxRefunds will be abolishedwithin two years. Because oflack of resource, collectivepayment of Income Tax andSales Tax Refunds is not pos-sible but definitely there is agood improvement.

About alternative DisputeResolution Mechanism, TariqMahmood Pasha said that thelist will be prepared by FBRwhile representatives will bechosen by the business com-munity and all stakeholders

C

The business community is the majorpart of the economic system and it

should be given respect and honour by thetax collection machinery, ChairmanFederal Board of Revenue

‘Tax Amnesty scheme2018 last chance’

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will be bound to accept the decision of the committee. Hesaid that repeated audit were causing difficulties for thebusiness community but now only one audit will be heldin three years. This move will help get rid ofthe misuse of discretionary powers by the taxmachinery. He said that Regulatory Duty hasbeen reduced or abolished on various items inthe recent budget. He said that import of thoseitems should be discouraged that are beingproduced locally.

The LCCI President Malik TahirJavaid saidthat The Lahore Chamber of Commerce &Industry welcomes Tax Amnesty Scheme 2018which allows legalizing undeclared assets bypaying income tax from 2pc to 5pc. The gov-ernment should extend its deadline for at leastone month.

He said that the policy of imposing regula-tory duties even on the items which are not

produced locally has made local productionunviable. There should be no regulatory dutyon raw materials which are not available inPakistan.

The LCCI President said that there are dif-ferent rates of sales tax for traders, manufac-turers and commercial importers etc., whichcreates certain ambiguities. We propose thatthere should be uniform percentage of sales taxfor all. He said that there is a dire need of har-monization among the provincial and federaltax collecting agencies. Due to double taxa-tion, the members of business community facea lot of issues.

He said that the number of taxes and fre-quency of paying taxes should be reduced. The system ofthe tax department should be reformed to encourage the new tax payers. He said that withholding Tax on Cash

Withdrawal was fully opposed by Lahore Chamber and itshould abolished on emergent basis.

"We propose that all the backlog of refunds should be

cleared within two months uponthe filing of return. The meetingsfor determination of CustomsValuation should also be arrangedin Lahore while empowering theCollectorate Office with an author-ity to take independent decisions",Malik TahirJavaid suggested andsaid Alternative DisputeResolution Mechanism should bestrengthened by FBR as it is inex-pensive, swift, and also eliminatespossibility of rent seeking.

The LCCI President said thatsome manufacturers supply ciga-rettes without paying any kind of

taxes to the markets at much lower price which dis-courages the formal sector of economy. FBR must takeaction against them as it is a loss to national exchequeras well.

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he Lahore Chamber of Commerce & Industry,while severely criticizing massive increase inthe POL prices, termed this raise a blackmailingof the trade, industry & masses.

The LCCI President Malik TahirJavaid saidthat OGRA knows well that trade, industry andmasses cannot run their activities without POLtherefore they are misusing this situation anddropping petrol bomb again and again that isnot acceptable.

He said that caretaker government hassupported a shocking move of OGRA that hasleast knowledge about the miseries of thebusiness community. This body doesn't care foreconomy, trade and industry and continuouslytaking anti-business decisions and it is a matterof concern that caretaker government is alsosupporting OGRA.

"Why doesn't OGRA suggest government toreduce duties and taxes on petroleum productsbesides cutting non-development expendituresof the state", Malik TahirJavaid questioned?

The LCCI President said that increase inpetroleum prices at this critical stage, wouldadd fuel to the fire and would give a big blowto the trade, industry and ultimately to the

economy.He said that economic indicators are

showing a concerning picture. No sector wouldbe left unaffected if government doesn'twithdraw the huge hike in POL prices. He saidthat POL is one of the basic raw materials forthe industry and a must for keep moving thewheel of trade and industry.

"Government should cut down non-development expenditures instead of droppingpetrol bomb on the trade and industry which isalready struggling for survival. Industry wouldnot be able to contribute in economic uplift ofthe country if anti-industry decision is taken",Malik TahirJavaid said and further added thatgovernment should cut the number of taxes andduties levied on petroleum products.

The LCCI President said that it is not theindustrial sector alone but the agriculture sectorwould also badly suffer. He said that Pakistanagriculture sector is engine of growth.

The LCCI Vice President Zeshan Khalil saidthat the cost of thermal power generation byprivate sector to go up. They said thatGovernment is producing huge amount ofelectricity through thermal means and afterincrease in petroleum prices, prices ofelectricity would touch new heights. They saidthat the Lahore Chamber of Commerce andIndustry had for the last many years beencalling on the concerned government circles totake measures for the promotion of alternatefuels as trade deficit was fast widening due toheavy imports under the head of petroleumproducts.

The LCCI office-bearers demanded of thegovernment to withdraw the recent increase inPOL prices in the larger interest of trade,industry and economy.

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LCCI terms massive hike in

PoL prices blackmailing

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he Lahore Chamber ofCommerce & Industryand Pakistan-CanadaBusiness Chamberinked a Memorandumof Understanding towork jointly forexpansion of trade andeconomic ties betweenthe two countries.

The LCCI SeniorVice President KhawajaKhawar Rasheed singedthe MOU on behalf ofthe Lahore Chamber ofCommerce & Industrywhile Pakistan CanadaBusiness Chamber wasrepresented by its president Shafqat Bashir.

Both the chambers will facilitate each other'smembers and will provide assistance to make bilat-eral trade activities a success. LCCI and PCBCwill also allow the other to display their respectivelogos for the purpose of solidarity in activitieswhich are joint facilitated by first requesting inwriting.

The LCCI Senior Vice President KhawajaKhawar Rasheed said that Pakistan is desirous ofincreasing its bilateral trade and investmentinCanada to boost the economy. He said that thereare a number sectors where huge potential forcooperation exists. He said that Livestock andAgriculture are the two areas in which cooperationcould lead to a win-win situation for the two coun-tries. He said that Pakistan pursued a broad rangeof interests in the context of bilateral relations withPakistan including trade and investment, develop-ment cooperation, people-to-people links, regionalsecurity and defence, governance and humanrights.

He said that Canada has always supportedPakistan on various policy issues and has beenamong the leading countries to assist Pakistan in itsefforts to acquire sustainable economic growth. Hesaid that two-way trade statistics show concern andhope both as the volume of trade done with Canadais minimal in terms of total trade of Canada andthe ray of hope is the room for enhancing the cur-

rent level of bilateral trade to a new level. He saidthat a little sector-specific effort can jack-up tradevolume to around US$ 2 billion in next few years.

Khawaja Khawar Rasheed said that the targetcan only be achieved by undertaking frequentactivities like exchange of businessman delega-tions, organizing single country exhibitions, partici-pation in fairs & exhibitions, seminars and work-shops etc. to ensure a continuous liaison and therole of Diplomatic Missions in either country can-not be over emphasized.

He said that the dynamic entrepreneurial classofPakistan is the best bet to enter into joint ven-tures to reap the benefits of the economies of scaleby catering to a large regional market. He said thatmain sectors of opportunity for Canadian business-es and joint ventures include Power & energy,Agri-food-breeding stock, food processing equip-ment and technology,Telecommunications/Information Technology,Metals and minerals-equipment, services and tech-nology. President Pakistan Canada BusinessChamber Shafqat Bashir said that Pakistan andCanadahave huge scope to work together to furtherstrengthen economic relations between the twocountries as Pakistan is a great country having richand unmatched resources. It is a great country andhas a bright future. He said that private sectors ofthe two countries should promote trade, investmentand economic partnership in the areas of mutualinterests.

LCCI, PCbC ink moUexpand Pak-Canada trade

T

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he Lahore Chamber of Commerce & Industry,while severely criticizing massive increase inthe POL prices, termed this raise a blackmailingof the trade, industry & masses.

The LCCI President Malik TahirJavaid saidthat OGRA knows well that trade, industry andmasses cannot run their activities without POLtherefore they are misusing this situation anddropping petrol bomb again and again that isnot acceptable.

He said that caretaker government hassupported a shocking move of OGRA that hasleast knowledge about the miseries of thebusiness community. This body doesn't care foreconomy, trade and industry and continuouslytaking anti-business decisions and it is a matterof concern that caretaker government is alsosupporting OGRA.

"Why doesn't OGRA suggest government toreduce duties and taxes on petroleum productsbesides cutting non-development expendituresof the state", Malik TahirJavaid questioned?

The LCCI President said that increase inpetroleum prices at this critical stage, wouldadd fuel to the fire and would give a big blowto the trade, industry and ultimately to the

economy.He said that economic indicators are

showing a concerning picture. No sector wouldbe left unaffected if government doesn'twithdraw the huge hike in POL prices. He saidthat POL is one of the basic raw materials forthe industry and a must for keep moving thewheel of trade and industry.

"Government should cut down non-development expenditures instead of droppingpetrol bomb on the trade and industry which isalready struggling for survival. Industry wouldnot be able to contribute in economic uplift ofthe country if anti-industry decision is taken",Malik TahirJavaid said and further added thatgovernment should cut the number of taxes andduties levied on petroleum products.

The LCCI President said that it is not theindustrial sector alone but the agriculture sectorwould also badly suffer. He said that Pakistanagriculture sector is engine of growth.

The LCCI Vice President Zeshan Khalil saidthat the cost of thermal power generation byprivate sector to go up. They said thatGovernment is producing huge amount ofelectricity through thermal means and afterincrease in petroleum prices, prices ofelectricity would touch new heights. They saidthat the Lahore Chamber of Commerce andIndustry had for the last many years beencalling on the concerned government circles totake measures for the promotion of alternatefuels as trade deficit was fast widening due toheavy imports under the head of petroleumproducts.

The LCCI office-bearers demanded of thegovernment to withdraw the recent increase inPOL prices in the larger interest of trade,industry and economy.

T

LCCI terms massive hike in

PoL prices blackmailing

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he Lahore Chamber ofCommerce & Industryand Pakistan-CanadaBusiness Chamberinked a Memorandumof Understanding towork jointly forexpansion of trade andeconomic ties betweenthe two countries.

The LCCI SeniorVice President KhawajaKhawar Rasheed singedthe MOU on behalf ofthe Lahore Chamber ofCommerce & Industrywhile Pakistan CanadaBusiness Chamber wasrepresented by its president Shafqat Bashir.

Both the chambers will facilitate each other'smembers and will provide assistance to make bilat-eral trade activities a success. LCCI and PCBCwill also allow the other to display their respectivelogos for the purpose of solidarity in activitieswhich are joint facilitated by first requesting inwriting.

The LCCI Senior Vice President KhawajaKhawar Rasheed said that Pakistan is desirous ofincreasing its bilateral trade and investmentinCanada to boost the economy. He said that thereare a number sectors where huge potential forcooperation exists. He said that Livestock andAgriculture are the two areas in which cooperationcould lead to a win-win situation for the two coun-tries. He said that Pakistan pursued a broad rangeof interests in the context of bilateral relations withPakistan including trade and investment, develop-ment cooperation, people-to-people links, regionalsecurity and defence, governance and humanrights.

He said that Canada has always supportedPakistan on various policy issues and has beenamong the leading countries to assist Pakistan in itsefforts to acquire sustainable economic growth. Hesaid that two-way trade statistics show concern andhope both as the volume of trade done with Canadais minimal in terms of total trade of Canada andthe ray of hope is the room for enhancing the cur-

rent level of bilateral trade to a new level. He saidthat a little sector-specific effort can jack-up tradevolume to around US$ 2 billion in next few years.

Khawaja Khawar Rasheed said that the targetcan only be achieved by undertaking frequentactivities like exchange of businessman delega-tions, organizing single country exhibitions, partici-pation in fairs & exhibitions, seminars and work-shops etc. to ensure a continuous liaison and therole of Diplomatic Missions in either country can-not be over emphasized.

He said that the dynamic entrepreneurial classofPakistan is the best bet to enter into joint ven-tures to reap the benefits of the economies of scaleby catering to a large regional market. He said thatmain sectors of opportunity for Canadian business-es and joint ventures include Power & energy,Agri-food-breeding stock, food processing equip-ment and technology,Telecommunications/Information Technology,Metals and minerals-equipment, services and tech-nology. President Pakistan Canada BusinessChamber Shafqat Bashir said that Pakistan andCanadahave huge scope to work together to furtherstrengthen economic relations between the twocountries as Pakistan is a great country having richand unmatched resources. It is a great country andhas a bright future. He said that private sectors ofthe two countries should promote trade, investmentand economic partnership in the areas of mutualinterests.

LCCI, PCbC ink moUexpand Pak-Canada trade

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The Lahore Chamber of Commerce & Industry has called to make Intellectual Property Rights anessential part of the businesses saying that IPRs are the most valuable asset for businesses in Westbut here in Pakistan still a lot of work has to be done. The LCCI President Malik Tahir Javaidsaid that the scope and importance of IPRs cannot be underestimated particularly with referenceto safeguarding the interest and future prospects of business community. He said there can be no

second opinion to this fact that the Intellectual Property Rights are critical for competitive economy in the back-drop of ongoing globalization. The new concept of IPRs based nation is gaining ground because it is IntellectualProperty Rights that enables technology creation and technology transfer by providing the necessary enablingenvironment.

Malik Tahir Javaid urged the private sector of Pakistan not to neglect Intellectual Property Rights at any costbecause these set their businesses apart from competitors, provide an important revenue stream, offer customers

something new and dif-ferent and form anessential part of theirmarketing or branding.

He said that govern-ment should protect andvigorously enforceIntellectual PropertyRights (IPRs) besidesproviding a congenialand protected environ-ment to improve theimage of Pakistan as aresponsible andIntellectual Propertycompliant nation.

The LCCI Presidentsaid that massive publicawareness campaignshould be undertaken

for sensitizing the consumers about their legitimate rights to opt for genuine and branded products and services.He said that government should also make efforts to curb counterfeiting and piracy with the support of enforce-ment agencies i.e. Police, Federal Investigation Agency (FIA) and Pakistan Customs.

He said that the manufacturers of counterfeit products were not only depriving the government of much need-ed revenue but also denting the reputation of the genuine manufacturers because the fake products are of lowquality.

The LCCI Senior Vice President Khawaja Khawar Rasheed and Vice President Zeshan Khalil said that theFBR should make foolproof arrangements to check the import and manufacturing of counterfeit products in thecountry. They said that a genuine product takes three to four decades to get on its feet but a manufacturer ofcounterfeit product nullifies all the efforts in a few days therefore a mechanism should be put in place to rein-force anti-piracy laws. They also urged the government to launch a campaign to create awareness among themasses against counterfeit products.

IPrsshould be a part

of businesses

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T he Lahore Chamber of Commerce &Industry called for trade and industryfriendly decisions to put economy on pathto required recovery. The LCCI President

Malik TahirJavaid said that all the decisions that havetaken economy hostage should be reviewed in thelarger interest of the business community. While giv-ing the example of repeated hikes in petroleum prod-uct prices and electricity tariff, the LCCI PresidentMalik TahirJavaid said that it would have been betterif caretaker government left these decisions to theforthcoming government instead adding to the mis-eries of the business community. He said that twicehuge increases in POL prices by the caretaker govern-ment have shocked the trade & industry as these haveincreased the cost of doing business that is already atthe higher side.

The LCCI President said that business communityhas never expected something good from Oil & GasRegulatory Authority as this body has no knowledgeabout the issues of trade & industry and has alwaysgone against interests of the business community but itis a matter of surprise that caretaker government is act-ing on the directions of OGRA. He said that ondemand of OGRA, repeated heavy increases in POLprices by the caretaker government have given a bigblow to the industrial sector as POL is the primary rawmaterial of the industry. He said that industrial inputcost has gone up and it has become more harder tocompete with the other countries in the international

market. He said that businesscommunity isunable to

understand that why duties and taxes on POL pricesare not being reduced? Likewise, he said that raise inpower tariff at this critical economic situation is unjus-tified.

Malik TahirJavaid said that country is already con-fronting huge challenges including burden of over $90external debts, stagnant exports and rising imports,unprecedented trade deficit, rupee devaluation, highinput cost, huge deficit of Public Sector Enterprises(PSEs), environmental issues, unemployment andabove all,external pres-sure throughmeasures likeinclusion inGrey List. Hesaid that newgovernmentwould have toface all ofthese illstherefore care-taker govern-ment shouldnot generatemore troublesfor the government to be formed after GeneralElections 2018.

The LCCI Vice President Zeshan Khalil alsodemanded of the caretaker governmentto take industry friendly measures inthe larger interest of the economy.

He said that ondemand of

OGRA, repeated heavyincreases in POL pricesby the caretakergovernment have givena big blow to theindustrial sector as POLis the primary rawmaterial of the industry

LCCI for industry-friendly

measures

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The Lahore Chamber of Commerce & Industry has called to make Intellectual Property Rights anessential part of the businesses saying that IPRs are the most valuable asset for businesses in Westbut here in Pakistan still a lot of work has to be done. The LCCI President Malik Tahir Javaidsaid that the scope and importance of IPRs cannot be underestimated particularly with referenceto safeguarding the interest and future prospects of business community. He said there can be no

second opinion to this fact that the Intellectual Property Rights are critical for competitive economy in the back-drop of ongoing globalization. The new concept of IPRs based nation is gaining ground because it is IntellectualProperty Rights that enables technology creation and technology transfer by providing the necessary enablingenvironment.

Malik Tahir Javaid urged the private sector of Pakistan not to neglect Intellectual Property Rights at any costbecause these set their businesses apart from competitors, provide an important revenue stream, offer customers

something new and dif-ferent and form anessential part of theirmarketing or branding.

He said that govern-ment should protect andvigorously enforceIntellectual PropertyRights (IPRs) besidesproviding a congenialand protected environ-ment to improve theimage of Pakistan as aresponsible andIntellectual Propertycompliant nation.

The LCCI Presidentsaid that massive publicawareness campaignshould be undertaken

for sensitizing the consumers about their legitimate rights to opt for genuine and branded products and services.He said that government should also make efforts to curb counterfeiting and piracy with the support of enforce-ment agencies i.e. Police, Federal Investigation Agency (FIA) and Pakistan Customs.

He said that the manufacturers of counterfeit products were not only depriving the government of much need-ed revenue but also denting the reputation of the genuine manufacturers because the fake products are of lowquality.

The LCCI Senior Vice President Khawaja Khawar Rasheed and Vice President Zeshan Khalil said that theFBR should make foolproof arrangements to check the import and manufacturing of counterfeit products in thecountry. They said that a genuine product takes three to four decades to get on its feet but a manufacturer ofcounterfeit product nullifies all the efforts in a few days therefore a mechanism should be put in place to rein-force anti-piracy laws. They also urged the government to launch a campaign to create awareness among themasses against counterfeit products.

IPrsshould be a part

of businesses

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T he Lahore Chamber of Commerce &Industry called for trade and industryfriendly decisions to put economy on pathto required recovery. The LCCI President

Malik TahirJavaid said that all the decisions that havetaken economy hostage should be reviewed in thelarger interest of the business community. While giv-ing the example of repeated hikes in petroleum prod-uct prices and electricity tariff, the LCCI PresidentMalik TahirJavaid said that it would have been betterif caretaker government left these decisions to theforthcoming government instead adding to the mis-eries of the business community. He said that twicehuge increases in POL prices by the caretaker govern-ment have shocked the trade & industry as these haveincreased the cost of doing business that is already atthe higher side.

The LCCI President said that business communityhas never expected something good from Oil & GasRegulatory Authority as this body has no knowledgeabout the issues of trade & industry and has alwaysgone against interests of the business community but itis a matter of surprise that caretaker government is act-ing on the directions of OGRA. He said that ondemand of OGRA, repeated heavy increases in POLprices by the caretaker government have given a bigblow to the industrial sector as POL is the primary rawmaterial of the industry. He said that industrial inputcost has gone up and it has become more harder tocompete with the other countries in the international

market. He said that businesscommunity isunable to

understand that why duties and taxes on POL pricesare not being reduced? Likewise, he said that raise inpower tariff at this critical economic situation is unjus-tified.

Malik TahirJavaid said that country is already con-fronting huge challenges including burden of over $90external debts, stagnant exports and rising imports,unprecedented trade deficit, rupee devaluation, highinput cost, huge deficit of Public Sector Enterprises(PSEs), environmental issues, unemployment andabove all,external pres-sure throughmeasures likeinclusion inGrey List. Hesaid that newgovernmentwould have toface all ofthese illstherefore care-taker govern-ment shouldnot generatemore troublesfor the government to be formed after GeneralElections 2018.

The LCCI Vice President Zeshan Khalil alsodemanded of the caretaker governmentto take industry friendly measures inthe larger interest of the economy.

He said that ondemand of

OGRA, repeated heavyincreases in POL pricesby the caretakergovernment have givena big blow to theindustrial sector as POLis the primary rawmaterial of the industry

LCCI for industry-friendly

measures

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L CCIseeksSBP's help

against fake currencyThe Lahore Chamber of

Commerce and Industry has cau-tioned the masses in general and thebusiness community in particular against prolifera-tion of counterfeit notes and urged the government andthe State Bank of Pakistan to launch mass drive to com-bat this menace.

"Government should also takepunitive action against anti-state ele-ments involved in counterfeit currencytrade as these black sheep are not onlyplaying havoc with the economy butalso protecting vested interests of theenemies of Pakistan."

The LCCI President Malik TahirJavaid called for a well designed cam-paign to educate people about thesecurity features of currency notes. Hesaid that it is the government that hasthe resources to curb this menace thatis spreading its tentacles like anythingand causing undue harm to the alreadydwindling economy.

The LCCI President said that theState Bank of Pakistan should provide necessary equip-ment / machines for detection of fake currency at least attheir main branches for their own use as well as for the

use ofgeneral

public freeof cost.He said that

the SBP shouldalso create awareness

about the legal provisionsregarding penalty and punish-

ment for counterfeiting to forewarn thecounterfeiters as to the consequences of committing thiscrime.

He said that the general public should be encouragedto hand over counterfeit notes that come to their posses-

sion to the nearest bank branch /SBP Banking Services Corporationoffice and to report the incident ofcounterfeiting to the LawEnforcement Agencies.

The LCCI Senior VicePresident Khawaja Khawar Rashidand Vice President Zeshan Khalilsaid that owning counterfeit cur-rency is a crime and the individu-als involved are attempting todefraud their fellow citizens andthe country as a whole. They saidthat tough anti-counterfeit meas-ures put in place by the govern-ment have gone a long way to pro-

vide additional security but the bottom line is that thereare still those who produce counterfeit currency in spiteof these measures.

LCCI seeksSBP’s help

againstfake

currency

The LCCIPresident

Malik Tahir Javaidcalled for a well-designedcampaign toeducate peopleabout the securityfeatures ofcurrency notes”

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Dear Sirs,I am happy that the importance of

Kalabagh Dam is presently being dis-cussed in all forums.

Supreme Court deliberated on thenatter to find solutions for the loomingwater scarcity issues, urgent realizationhas come that if the matter is notresolved on war footings then perhapswe will shortly have no water to drinkwhat to talk about agriculture and otherneeds.

The Hon'ble Chief Justice ofPakistan's suomotu action on issue ofconstruction of mega dam projects gen-erated a lot of hope as there is anurgent need for remedial relief meas-ures that can be implemented in short-est period of time.

Bhasha dam is one of the earmarked mega project that is expected tohave water storage capacity of about 6Million acre feet, however this damwill take atleast about 14 years tobecome functional.

We have a God gifted chance to buildKalabagh dam in very short time of lessthan 05years and as such we can have a mega water reser-voir having a storage capacity of acre feet 'there is an inter-national thumb rule that if you store 1 million acre feet ofwater it gives you 2 billion dollars a year in cascade andunfortunately Pakistan is spilling into the sea 35 millionacre feet of precious sweet river water worth 70 billion dol-lars every year which is equivalent to our total debt.'

I beseech you to take over this project in your hands. Itis as important as Zarb e Azab or defending the boundariesof our country.To generate funds for the construction ofthis project and all other hydel energy unitswith waterstorage.The Government can form a Public LimitedCompany and float itsshares to the public and in all stockexchanges of the world with a slogan that we will produceelectricity at Rs 2 Per Unit and will sell at Rs-6 per unit.

Everybody willinvest in these lucrative shares. Special incen-tives be offered to the purchasers of theseshares, i.e.

1- No probe on sources spent for the pur-chase of these shares2- Profits on this invest-ment from day one3- No tax on profits forfirst 5 Years4- Shareholders shall be givendiscount on electric bills5- Shares should benegotiable instruments (can be used as collat-eral/Security)6- Shares should be tradable instock exchange.

I am very confident that funds for allHydel projects including Kalabagh Damwill be raised in very short time and con-struction of all dams can be started simul-taneously.With this initiative Pakistan willbecome economically strong.OurAgriculture produce will be boosted andwe will become grain exporting country.Our 80percent industry is Agro based itwill get cheaper raw materials. Our indus-try will get cheaper electricity and will bein a position to compete in the internation-al market. There will be no unemploymentand consequently Law and order situation

will be lot different. As many as 800,000 Acres ofnearly barren area of DI KHAN, KPK will be cultivat-ed. As many 900,000 Acres of Thar Sindh will becomecultivable. Cholistanin Sindh and Punjab will becomecultivable. World Halal food Trade is more than 300Billion Dollars, Pakistan will become the major share-holder in this ever increasing Halal Food Trade. Ourexports will touch 200 Billion Dollars. A many 1Billion Dollar Exports shall bring in 1 Million Jobs.Our debts will reduce and per capita income willincrease many fold.

The Writer is the Former President of The LahoreChamber of Commerce & Industry and can be reached atbasit@bigbirdgroup.com.pk

Open letter to CJ and COAS

New dams a mustfor survival

With thisinitiative Pakistanwill becomeeconomicallystrong.OurAgriculture producewill be boosted and80percent industrywill get cheaperraw materials. Ourindustry will getcheaper electricityand will be in aposition to competein the internationalmarket

Abdul Basit

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L CCIseeksSBP's help

against fake currencyThe Lahore Chamber of

Commerce and Industry has cau-tioned the masses in general and thebusiness community in particular against prolifera-tion of counterfeit notes and urged the government andthe State Bank of Pakistan to launch mass drive to com-bat this menace.

"Government should also takepunitive action against anti-state ele-ments involved in counterfeit currencytrade as these black sheep are not onlyplaying havoc with the economy butalso protecting vested interests of theenemies of Pakistan."

The LCCI President Malik TahirJavaid called for a well designed cam-paign to educate people about thesecurity features of currency notes. Hesaid that it is the government that hasthe resources to curb this menace thatis spreading its tentacles like anythingand causing undue harm to the alreadydwindling economy.

The LCCI President said that theState Bank of Pakistan should provide necessary equip-ment / machines for detection of fake currency at least attheir main branches for their own use as well as for the

use ofgeneral

public freeof cost.He said that

the SBP shouldalso create awareness

about the legal provisionsregarding penalty and punish-

ment for counterfeiting to forewarn thecounterfeiters as to the consequences of committing thiscrime.

He said that the general public should be encouragedto hand over counterfeit notes that come to their posses-

sion to the nearest bank branch /SBP Banking Services Corporationoffice and to report the incident ofcounterfeiting to the LawEnforcement Agencies.

The LCCI Senior VicePresident Khawaja Khawar Rashidand Vice President Zeshan Khalilsaid that owning counterfeit cur-rency is a crime and the individu-als involved are attempting todefraud their fellow citizens andthe country as a whole. They saidthat tough anti-counterfeit meas-ures put in place by the govern-ment have gone a long way to pro-

vide additional security but the bottom line is that thereare still those who produce counterfeit currency in spiteof these measures.

LCCI seeksSBP’s help

againstfake

currency

The LCCIPresident

Malik Tahir Javaidcalled for a well-designedcampaign toeducate peopleabout the securityfeatures ofcurrency notes”

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Dear Sirs,I am happy that the importance of

Kalabagh Dam is presently being dis-cussed in all forums.

Supreme Court deliberated on thenatter to find solutions for the loomingwater scarcity issues, urgent realizationhas come that if the matter is notresolved on war footings then perhapswe will shortly have no water to drinkwhat to talk about agriculture and otherneeds.

The Hon'ble Chief Justice ofPakistan's suomotu action on issue ofconstruction of mega dam projects gen-erated a lot of hope as there is anurgent need for remedial relief meas-ures that can be implemented in short-est period of time.

Bhasha dam is one of the earmarked mega project that is expected tohave water storage capacity of about 6Million acre feet, however this damwill take atleast about 14 years tobecome functional.

We have a God gifted chance to buildKalabagh dam in very short time of lessthan 05years and as such we can have a mega water reser-voir having a storage capacity of acre feet 'there is an inter-national thumb rule that if you store 1 million acre feet ofwater it gives you 2 billion dollars a year in cascade andunfortunately Pakistan is spilling into the sea 35 millionacre feet of precious sweet river water worth 70 billion dol-lars every year which is equivalent to our total debt.'

I beseech you to take over this project in your hands. Itis as important as Zarb e Azab or defending the boundariesof our country.To generate funds for the construction ofthis project and all other hydel energy unitswith waterstorage.The Government can form a Public LimitedCompany and float itsshares to the public and in all stockexchanges of the world with a slogan that we will produceelectricity at Rs 2 Per Unit and will sell at Rs-6 per unit.

Everybody willinvest in these lucrative shares. Special incen-tives be offered to the purchasers of theseshares, i.e.

1- No probe on sources spent for the pur-chase of these shares2- Profits on this invest-ment from day one3- No tax on profits forfirst 5 Years4- Shareholders shall be givendiscount on electric bills5- Shares should benegotiable instruments (can be used as collat-eral/Security)6- Shares should be tradable instock exchange.

I am very confident that funds for allHydel projects including Kalabagh Damwill be raised in very short time and con-struction of all dams can be started simul-taneously.With this initiative Pakistan willbecome economically strong.OurAgriculture produce will be boosted andwe will become grain exporting country.Our 80percent industry is Agro based itwill get cheaper raw materials. Our indus-try will get cheaper electricity and will bein a position to compete in the internation-al market. There will be no unemploymentand consequently Law and order situation

will be lot different. As many as 800,000 Acres ofnearly barren area of DI KHAN, KPK will be cultivat-ed. As many 900,000 Acres of Thar Sindh will becomecultivable. Cholistanin Sindh and Punjab will becomecultivable. World Halal food Trade is more than 300Billion Dollars, Pakistan will become the major share-holder in this ever increasing Halal Food Trade. Ourexports will touch 200 Billion Dollars. A many 1Billion Dollar Exports shall bring in 1 Million Jobs.Our debts will reduce and per capita income willincrease many fold.

The Writer is the Former President of The LahoreChamber of Commerce & Industry and can be reached atbasit@bigbirdgroup.com.pk

Open letter to CJ and COAS

New dams a mustfor survival

With thisinitiative Pakistanwill becomeeconomicallystrong.OurAgriculture producewill be boosted and80percent industrywill get cheaperraw materials. Ourindustry will getcheaper electricityand will be in aposition to competein the internationalmarket

Abdul Basit

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Ayub Ghauri, Executive Director, M/s NETSOL, Uzma Manzar, Senior Vice President LCCIKhwaja Khawar Rasheed, Vice President Zeshan Khalil, Executive Committee Member

Awais Saeed Paracha and Hassan Amjad on the occasion of a Seminar on “GlobalInvestments- A Game Changer for Pakistani Retail Market” organised by LCCI.

he Lahore Chamber of Commerce &Industry has urged the government to defferthe agreement for Electronic Data Exchange(EDE) with China as it would do more harmthan good.

The LCCI President Malik Tahir Javaid,Senior Vice President Khawaja KhawarRashid and Vice President Zeshan Khalilsaid that government has planned toestablish Electronic Data Exchange systemto capture the real value of imports fromChina. They feared that this system wouldaffect the trade & industry and Pakistanieconomy would pay heavy cost.

The LCCI office-bearers said that overinvoicing in China is common to get customrebates and it is impossible to match tradedata with China through Electronic DataExchange system.

They said that reportedly only around 60 percent ofthe imported goods from China are currently comingunder the Free Trade Agreement and Electronic DataExchange will cover only these goods while remainingwould be out of its reach. They said that coverage to allimports from China would require changes in Chinesedomestic laws which is a long process.

They said that government would have to find outsome other solution to the issue of mis-declaration andunder invoicing in consultation with the stakeholders.They said that if this system is imposed withoutkeeping in view the ground realities, it would promotesmuggling that is already causing huge loss to thenational economy. Office-bearers of the LahoreChamber of Commerce & Industry hoped thatgovernment would act wisely and would get feedbackfrom the stakeholders regarding Electronic DataExchange system.

LCCI flays EDE

Tagreement with China

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Infrastructural development hasalways remained an essential ele-ment for economic growth.Setting up new cities provides

facilities like jobs and economic opportu-nities to the inhabitants of far flung andless developed areas and unquestionablyreduces the number of people frommigrating to metropolitans.

New roads, bridges, infrastructureincreases connectivity, reduces travellingtime, promotes tourism and also providefarmers the access to reach bigger marketson time. Airports, seaports, railways encour-age industrialization by connecting theworld together and making it a single acces-sible market open for everyone. In Pakistan,CPEC is an ideal example of mega foreigninvestment in energy projects, infrastructure, industry, moderntransportation networks and establishment of Special EconomicZones (SEZ's) etc.

China Pakistan Economic Corridor (CPEC) is part of OneBelt One Road (OBOR) initiative launched by Chinese PresidentMr Xi Jinping in 2013. The project was formalized during hisvisit to Pakistan in 2015 by signing MOU's worth $46 Billion.The aim of OBOR is to revive the ancient Silk Route by con-necting China with Africa and Europe. It is not only the con-struction of infrastructure and roads it is an idea to connect tradeand people of the whole world. It is supposed to be the GameChanger for Pakistan. After its completion, it is expected thatPakistan will emerge as an economic power and country's GDPwould also boost and the dream to become an Asian tiger willcome true.

Pakistan and China enjoy brotherly relations since decades.Pakistan was the first Muslim and third non-communist coun-try to recognize China as a sovereign independent state andestablished diplomatic relations in 1951. The trade volumebetween Pakistan and China is around US$17.00 Billion annu-ally. The trade surplus is in favor of China as their value addedexports are around US$15.00 Billion and resource-basedimports from Pakistan are around US$2.00 Billion.

As compared to China, we are far behind in agriculturaltechnology, services and manufacturing sectors. Law and ordercondition, lack of access to Pakistan trading partners, explorationof new markets, lack of R&D, energy shortages, high input costof production make it difficult for Pakistani businessman to shelfhis products and compete in international markets. Our localindustry is shutting down which is one of the reasons that weneither enhance exports nor fulfill the requirement of our localconsumer markets. Pakistan is not only facing shortage of elec-tricity but also a severe scarcity of water. Due to the absence ofdams and water reservoirs our water level is decreasing day and

day and are declared as a water scarce coun-try. It is very scary that by the end of 2023we will have no water for our crops as Indiahas constructed dams on Indus, Chenab andJhelum rivers which is very alarming. It isalso pity that being an agricultural countryinstead of exporting dairy and agriculturalgoods we import vegetables, pulses andfresh fruits. As our exports are not increas-ing and imports are enhancing drastically,we are facing a huge trade deficit. Issueslike over and under invoicing, smugglingfrom China, Iran, Afghanistan and Indiahas also caused negative effects on ourindustry and economy.

China is an economic power and issupplying its products all over the world.

CPEC is not only a game changer for Pakistan it will be a gamechanger for China too. At present, China imports 60 % of oilfrom Persian Gulf with the voyage of around 14000Kms in 45days. After the completion of CPEC, the distance from Gawadarto Kashgar will reduce to around 2700Kms and also willdecreases the time to 10 days. Secondly, China's dream to reachhot waters will come true. It is also worth mentioning that Chinais supplying its products throughout the world at competitiverates and our major imports are also from China. With the reduc-tion of time and cost, China will surely have a competitive edgeon prices in international market.

In order to attract Foreign Direct investment (FDI), theGovernment of Pakistan has announced nine sector specificSEZ's under CPEC with huge rebates and concessions for thosewho are willing to invest there. It will eventually increaseinvestment, industrialization and will be the source of job cre-ation in the country. But question arises how our existing localindustry which is suffering from heavy duties, taxes and com-plex system will compete with the new one establishing inSEZ's. Currently, our industry is concerned about competingwith Chinese products as our production cost is much higherthan them, how we will compete when Chinese low cost prod-ucts will be feeding our local markets from Pakistan. Our exist-ing industry cannot survive until we have the same facilitieswhich will be available for new investors. In order to save exist-ing industry of Pakistan is it not possible to declare SEZ's asSpecial Export Zones instead of Special Economic Zones.

There are also serious reservations regarding the sale ofnational land to foreigners and giving away our agricultural landfor industrial hubs. It is also under discussion that why Chinaand other allied countries are not supporting us to constructdams and water reservoirs which we need more than any otherthing. It is true industry, job creation, technology, infrastructureis imperative for the development of Pakistan but it should notbe at the cost of our National integrity.

Our National IntegrityAnd Infrastructure

Kashif Anwar,Former Vice President LCCIemail:kashifanwar3353@gmail.com

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Ayub Ghauri, Executive Director, M/s NETSOL, Uzma Manzar, Senior Vice President LCCIKhwaja Khawar Rasheed, Vice President Zeshan Khalil, Executive Committee Member

Awais Saeed Paracha and Hassan Amjad on the occasion of a Seminar on “GlobalInvestments- A Game Changer for Pakistani Retail Market” organised by LCCI.

he Lahore Chamber of Commerce &Industry has urged the government to defferthe agreement for Electronic Data Exchange(EDE) with China as it would do more harmthan good.

The LCCI President Malik Tahir Javaid,Senior Vice President Khawaja KhawarRashid and Vice President Zeshan Khalilsaid that government has planned toestablish Electronic Data Exchange systemto capture the real value of imports fromChina. They feared that this system wouldaffect the trade & industry and Pakistanieconomy would pay heavy cost.

The LCCI office-bearers said that overinvoicing in China is common to get customrebates and it is impossible to match tradedata with China through Electronic DataExchange system.

They said that reportedly only around 60 percent ofthe imported goods from China are currently comingunder the Free Trade Agreement and Electronic DataExchange will cover only these goods while remainingwould be out of its reach. They said that coverage to allimports from China would require changes in Chinesedomestic laws which is a long process.

They said that government would have to find outsome other solution to the issue of mis-declaration andunder invoicing in consultation with the stakeholders.They said that if this system is imposed withoutkeeping in view the ground realities, it would promotesmuggling that is already causing huge loss to thenational economy. Office-bearers of the LahoreChamber of Commerce & Industry hoped thatgovernment would act wisely and would get feedbackfrom the stakeholders regarding Electronic DataExchange system.

LCCI flays EDE

Tagreement with China

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Infrastructural development hasalways remained an essential ele-ment for economic growth.Setting up new cities provides

facilities like jobs and economic opportu-nities to the inhabitants of far flung andless developed areas and unquestionablyreduces the number of people frommigrating to metropolitans.

New roads, bridges, infrastructureincreases connectivity, reduces travellingtime, promotes tourism and also providefarmers the access to reach bigger marketson time. Airports, seaports, railways encour-age industrialization by connecting theworld together and making it a single acces-sible market open for everyone. In Pakistan,CPEC is an ideal example of mega foreigninvestment in energy projects, infrastructure, industry, moderntransportation networks and establishment of Special EconomicZones (SEZ's) etc.

China Pakistan Economic Corridor (CPEC) is part of OneBelt One Road (OBOR) initiative launched by Chinese PresidentMr Xi Jinping in 2013. The project was formalized during hisvisit to Pakistan in 2015 by signing MOU's worth $46 Billion.The aim of OBOR is to revive the ancient Silk Route by con-necting China with Africa and Europe. It is not only the con-struction of infrastructure and roads it is an idea to connect tradeand people of the whole world. It is supposed to be the GameChanger for Pakistan. After its completion, it is expected thatPakistan will emerge as an economic power and country's GDPwould also boost and the dream to become an Asian tiger willcome true.

Pakistan and China enjoy brotherly relations since decades.Pakistan was the first Muslim and third non-communist coun-try to recognize China as a sovereign independent state andestablished diplomatic relations in 1951. The trade volumebetween Pakistan and China is around US$17.00 Billion annu-ally. The trade surplus is in favor of China as their value addedexports are around US$15.00 Billion and resource-basedimports from Pakistan are around US$2.00 Billion.

As compared to China, we are far behind in agriculturaltechnology, services and manufacturing sectors. Law and ordercondition, lack of access to Pakistan trading partners, explorationof new markets, lack of R&D, energy shortages, high input costof production make it difficult for Pakistani businessman to shelfhis products and compete in international markets. Our localindustry is shutting down which is one of the reasons that weneither enhance exports nor fulfill the requirement of our localconsumer markets. Pakistan is not only facing shortage of elec-tricity but also a severe scarcity of water. Due to the absence ofdams and water reservoirs our water level is decreasing day and

day and are declared as a water scarce coun-try. It is very scary that by the end of 2023we will have no water for our crops as Indiahas constructed dams on Indus, Chenab andJhelum rivers which is very alarming. It isalso pity that being an agricultural countryinstead of exporting dairy and agriculturalgoods we import vegetables, pulses andfresh fruits. As our exports are not increas-ing and imports are enhancing drastically,we are facing a huge trade deficit. Issueslike over and under invoicing, smugglingfrom China, Iran, Afghanistan and Indiahas also caused negative effects on ourindustry and economy.

China is an economic power and issupplying its products all over the world.

CPEC is not only a game changer for Pakistan it will be a gamechanger for China too. At present, China imports 60 % of oilfrom Persian Gulf with the voyage of around 14000Kms in 45days. After the completion of CPEC, the distance from Gawadarto Kashgar will reduce to around 2700Kms and also willdecreases the time to 10 days. Secondly, China's dream to reachhot waters will come true. It is also worth mentioning that Chinais supplying its products throughout the world at competitiverates and our major imports are also from China. With the reduc-tion of time and cost, China will surely have a competitive edgeon prices in international market.

In order to attract Foreign Direct investment (FDI), theGovernment of Pakistan has announced nine sector specificSEZ's under CPEC with huge rebates and concessions for thosewho are willing to invest there. It will eventually increaseinvestment, industrialization and will be the source of job cre-ation in the country. But question arises how our existing localindustry which is suffering from heavy duties, taxes and com-plex system will compete with the new one establishing inSEZ's. Currently, our industry is concerned about competingwith Chinese products as our production cost is much higherthan them, how we will compete when Chinese low cost prod-ucts will be feeding our local markets from Pakistan. Our exist-ing industry cannot survive until we have the same facilitieswhich will be available for new investors. In order to save exist-ing industry of Pakistan is it not possible to declare SEZ's asSpecial Export Zones instead of Special Economic Zones.

There are also serious reservations regarding the sale ofnational land to foreigners and giving away our agricultural landfor industrial hubs. It is also under discussion that why Chinaand other allied countries are not supporting us to constructdams and water reservoirs which we need more than any otherthing. It is true industry, job creation, technology, infrastructureis imperative for the development of Pakistan but it should notbe at the cost of our National integrity.

Our National IntegrityAnd Infrastructure

Kashif Anwar,Former Vice President LCCIemail:kashifanwar3353@gmail.com

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REQUEST TO PROVIDE VIEWS ONVARIOUS RULES AND REGULATIONS

The business community is facing various problems regarding proce-dures of purchase and procurement. The PPRA rules adopted by Federal andPunjab Governments are not being followed properly and need to havetransparency. The issues regarding Letter of credit, purchase rules, suppli-ers, bill of entry and exchange need to be resolved. It is equally important tosettle the terms and conditions with the suppliers etc.

It is therefore requested to please give your views on various rules and reg-ulations which are as follows.

Public procurement regulatory authority.Contract acts.Stamp Acts.Registration Act.Post and pretenders issues and quotes. Discriminatory practices.Standards of quality and shelf life.Arbitration acts.Dispute resolution and return of goods.L/Cs of government departments and institutions and clearance of goods.Commercial treaties and trade bodies working.Services tax in contravention of sales tax acts.

In light of the recommendations provided by your good self a meeting would be arranged with PPRA to provide feedback on the above mentionedrules and regulations. Please communicate your feedback to Ms. Amina Asif, Research Officer, Research & DevelopmentDepartment, LCCI at amina.rndlcci@gmail.com or call at 042-36305538-40 (Ext) 355 for any further assistance.

CIRCuLAR

REQUEST TO PROVIDE VIEWS ONVARIOUS RULES AND REGULATIONS

The business community is facing various problems regarding proce-dures of purchase and procurement. The PPRA rules adopted by Federal andPunjab Governments are not being followed properly and need to havetransparency. The issues regarding Letter of credit, purchase rules, suppli-ers, bill of entry and exchange need to be resolved. It is equally important tosettle the terms and conditions with the suppliers etc.

It is therefore requested to please give your views on various rules and reg-ulations which are as follows.

Public procurement regulatory authority.Contract acts.Stamp Acts.Registration Act.Post and pretenders issues and quotes. Discriminatory practices.Standards of quality and shelf life.Arbitration acts.Dispute resolution and return of goods.L/Cs of government departments and institutions and clearance of goods.Commercial treaties and trade bodies working.Services tax in contravention of sales tax acts.

In light of the recommendations provided by your good self a meeting would be arranged with PPRA to provide feedback on the above mentionedrules and regulations. Please communicate your feedback to Ms. Amina Asif, Research Officer, Research & DevelopmentDepartment, LCCI at amina.rndlcci@gmail.com or call at 042-36305538-40 (Ext) 355 for any further assistance.

CIRCuLAR

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