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KARACHI: In a significant move to enhance collaboration, the Karachi Chamber of Commerce & Industry (KCCI) and the Lahore Chamber of Commerce & Industry (LCCI) have agreed to strengthen their cooperation for Pakistan’s economic revival. During a meeting at KCCI on Saturday, President KCCI Rehan Hanif and President LCCI Faheem ur Rehman Saigol said that Pakistan has great potential despite facing serious challenges, but warned that poor policies and neglect of the private sector could make the economic situation worse. Saigol said that despite facing numerous challenges, Pakistan’s economy continues to survive only because of its immense potential, as the country is blessed with abundant natural and human resources not found elsewhere in the region. However, he lamented that the real problem lies in the mismanagement of these resources. “Despite all odds, we, the business community, continue to sit together at Chambers of Commerce to deliberate on the challenges being faced by trade and industry because we firmly believe in the vast potential of our country. With a population of 240 million, Pakistan has a huge consumer market. However, instead of promoting local industries and encouraging import substitution, our policies have raised the trade deficit” He explained that the main purpose of his visit to KCCI was to ensure that the business communities of Karachi and Lahore are on the same page. “Our strength lies in securing a rightful share in policymaking. Legislation must be framed in consultation with the business community, which is the actual stakeholder and best understands how tax collection can be effectively achieved,” he said. President LCCI invited KCCI’s office-bearers to visit LCCI at the earliest opportunity, stating that such an exchange would help establish a historic and much-needed liaison between the two leading chambers of the country. “Only through a unified voice can we hope to get our issues effectively resolved,” he affirmed. Vice Chairman BMG Anjum Nisar emphasised that a unified stance by the Karachi and Lahore Chambers would carry tremendous weight and compel the government to seriously address the legitimate concerns of the business community. He pointed out that these two major chambers collectively represent over 90 percent of Pakistan’s economic activity, and their combined voice cannot be ignored. He urged the government to immediately resolve the critical issues affecting trade and industry, particularly the severe shortages and soaring costs of essential utilities such as water, gas, and electricity. “The government must focus on creating an enabling business environment that fosters entrepreneurship and industrial growth, similar to the model successfully adopted by countries like Vietnam,” he remarked. “Policies that discourage investment and trigger capital flight must be replaced with measures that inspire confidence, attract investment, and sustain economic activity.” Speaking on the occasion, Vice Chairman BMG Jawed Bilwani underscored the importance of unity between the Karachi and Lahore Chambers in tackling the shared challenges confronting businesses across Pakistan. He emphasized that when KCCI and LCCI stand together and raise a collective voice, the federal government in Islamabad will have no choice but to take notice and respond to their legitimate demands. “If we remain sincere, principled, and truthful in advocating for our cause, we will undoubtedly earn the trust and support of the people”, he asserted while referring to last year’s strike call which was fully supported by LCCI and other Chambers as well as trade bodies and commercial markets associations. Expressing concern over the worsening economic situation, Jawed Bilwani noted that despite official claims of recovery, the country’s economic crisis continues to deepen. “Circular debt is once again on the rise, and capacity payments are increasing, yet industrial demand for energy is declining, not only in Karachi but also in Lahore and other cities. This shrinking energy consumption clearly reflects reduced industrial activity, which raises a fundamental question that how can there be talk of economic revival when production itself is contracting?” President KCCI Rehan Hanif, in his remarks, emphasized the need for forging a strong and united front among KCCI and LCCI to collectively address the challenges confronting trade and industry. “The time has come for KCCI and LCCI to stand shoulder to shoulder and speak with one powerful voice,” he stressed. “Only then can we ensure that policymakers truly listen to the concerns of the business community and implement solutions aligned with our collective vision for economic revival.” Calling attention to long-standing bottlenecks, Rehan Hanif urged LCCI to work closely with KCCI on resolving the 20-year-old dispute over industrial land at Port Qasim. Copyright Business Recorder, 2025
