Press Release

Economic activities bolster after LCCI Chief’s meeting

President of the Lahore Chamber of Commerce and Industry Kashif Anwar has welcomed a notable cut in disparity between interbank and open market dollar rate, revival of stock market and good signs of economic indicators after LCCI delegation’s meeting with the Chief of Army Staff General Asim Munir.  In a statement, Kashif Anwar said that the keen interest of COAS in economic revival of the country is a very good sign for the economic future of the country. He said that all economic indicators responded positively soon after his meeting with the COAS. Kashif Anwar said that the primary objective of the Lahore Chamber of Commerce and Industry is to play role to bolster the economic activities and added that meeting with the COAS is a breath of fresh air.

The LCCI President said that the business community was disappointed because of economic situations but meeting with COAS had given it courage and hope. He said that cut in disparity between interbank and open market dollar rate and revival of stock market is just a start. He hoped that the foreign direct investment would also take a positive turn.

Kashif Anwar said that he has discussed Charter of Economy, devaluation of rupee, disparity between interbank and open market dollar rate, issues of high cost of doing business, reduction in electricity bills, bring undocumented sectors to the documentation with the Chief of Army Staff for his immediate attention.

Kashif Anwar emphasized the importance of an enhanced and sustained interactive dialogue between the business community and relevant authorities.  President LCCI said that the expansion of the tax base would remain elusive as long as the grey economy remains unincorporated, unable to contribute to the formal, white economy. Kashif Anwar said that we hope that in near future the rate of inflation, devaluation, interest rate and cost of doing business will improve further.