The Lahore Chamber of Commerce and Industry (LCCI) has highlighted the profiteering behavior of banks and issues in the provision of LCs for the import of heavy machinery as two major issues being faced by the business community.
Finance Minister Miftah Ismail held a virtual meeting with a delegation of LCCI at the Finance Division today. LCCI President Mian Nauman Kabir, Senior VP Mian Rehman Aziz Chan, and Vice President Haris Ateeq attended the meeting.
The finance minister was briefed about the contribution of LCCI to the economic development of the country and apprised about issues being faced by the business community in Pakistan. The major issues were pertaining to the profiteering behavior of banks, issues in the provision of LCs for import of heavy machinery, and differential rates for import in FATA and PATA impacting the operational efficiency of the chamber.
The minister comprehensively deliberated over the issues being shared by the delegation. He assured them that various issues have already been resolved while the remaining issues would be resolved at the earliest time possible.
The minister informed that all pertinent stakeholders have been taken on board for the resolution of these issues. He directed the relevant authorities to undertake the required steps for the resolution of these issues.
