The annual general meeting of Lahore Chamber of Commerce was held today in Lahore in which Mian Abu Zar Shad assumed the responsibilities as newly elected President of LCCI.
While addressing, Abu Zar Shad termed the agreement with IMF as a positive development. He congratulated Prime Minister Shehbaz Sharif and his economic team for their efforts.
He said that due to right economic policies, trust of world financial institutions on Pakistan has been restored.
He said that the government made difficult economic decisions with great wisdom and its benefits are being witnessed.
He said that the economic indicators show that Shehbaz Sharif will succeed in steering economy in right direction.
He said that the continuous reduction in interest rates will boost trade and industrial activities.
President LCCI, Abu Zar Shad said that country’s foreign exchange reserves are near 15 billion dollars which is satisfactory.
He said that historical hike in the stock market is a testament to the confidence in Shehbaz Sharif’s economic policies.
He said that the consistent increase in remittances from overseas Pakistanis is providing strong foundations for the economy.
President LCCI demanded the government to engage for broad consultations on issues facing small traders.
He said that the Lahore Chamber will act as a bridge between the government and traders on policies to increase the tax net.
He also expressed full support for Prime Minister Shehbaz Sharif’s FBR reforms program.
