Latest news with #MianAbuzarShad
Business Recorder
15 hours ago
- Business
- Business Recorder
‘Hum Sab Pakistan': LCCI holds interfaith moot to express unity
LAHORE: The Lahore Chamber of Commerce & Industry on Thursday organised 'Hum Sab Pakistan' Interfaith Conference to express national unity and interfaith solidarity. Provincial Minister for Minority Affairs Ramesh Singh Arora, LCCI President Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman, former LCCI president Muhammad Ali Mian, former vice president Faheem ur Rehman Saigol, senior political figures including Liaqat Baloch, Khurram Nawaz Gandapur, Chairman of LCCI Standing Committee on Interfaith Harmony Sardar Bishan Singh Bedi and religious scholars spoke on the occasion. Provincial Minister Ramesh Singh Arora said that holding such interfaith events is a need of the hour. He said that Pakistan is a country for all its citizens, regardless of religion or ethnicity. The efforts of the Lahore Chamber in advancing the cause of interfaith dialogue and harmony are truly commendable. It is time for all segments of society to unite and play a proactive role in building an atmosphere of respect, equality and peace. LCCI President Mian Abuzar Shad said that the Lahore Chamber of Commerce and Industry is committed to promote interfaith harmony and will continue to lead initiatives that bring different communities together under the banner of peace and patriotism. He said that we salute the armed forces of Pakistan for their unmatched sacrifices in protecting our beloved homeland. At the same time, we also recognise and deeply value the contributions of religious minorities in the nation's development. Their role in the country's progress, democracy and social fabric is nothing short of remarkable. He said that a strong economy cannot be built in isolation from a strong and cohesive society and that both are essential for long-term national stability. LCCI Senior Vice President Engineer Khalid Usman stressed the need for unity. He said that we may belong to different faiths but we are united by one identity, Pakistan. Our purpose must be collective progress, national strength and peace for all. He said that mutual understanding and respect are the building blocks of a just and prosperous society. Former LCCI president Muhammad Ali Mian urged all segments of society to come together to build a stronger and more peaceful Pakistan. He said religious harmony is a necessity for national development. We must all work together to ensure that our future generations inherit a tolerant and united country. Chairman of the Standing Committee on Interfaith Harmony, Sardar Bishan Singh Bedi, praised LCCI's leadership for taking tangible steps to bring people of different faiths together. He highlighted how economic growth, communal peace and religious coexistence are interlinked and should be pursued together. Copyright Business Recorder, 2025
Business Recorder
5 days ago
- Business
- Business Recorder
FBR's Budget Anomaly Committee: Businessmen praise LCCI president's induction
LAHORE: Mian Abuzar Shad, President of the Lahore Chamber of Commerce and Industry (LCCI), has been appointed as a member of the Federal Board of Revenue's Budget Anomaly Committee, a move that has been widely applauded by the business community. Trade organizations and industry leaders have hailed the decision, describing it as a testament to the confidence reposed in Shad's leadership and his ability to represent the interests of traders and industrialists effectively. Copyright Business Recorder, 2025
Business Recorder
6 days ago
- Business
- Business Recorder
LCCI terms Israeli attack on Iran as violation of int'l laws
LAHORE: The Lahore Chamber of Commerce & Industry strongly condemned the Israeli attack on Iran and termed it a grave violation of international laws and a serious threat to regional and global peace. In a statement, LCCI President Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman and Vice President Shahid Nazir Chaudhry expressed deep concern over the escalation of Israeli military actions and stressed the urgent need for the international community to take notice and act decisively. They said that the unprovoked attack on Iran is not only a blatant breach of international law and the UN Charter but also a dangerous provocation that threatens the delicate balance of peace in the Middle East. 'We at the Lahore Chamber of Commerce & Industry stand in absolute solidarity with the government and people of Iran during this critical and painful time', they added. The LCCI office-bearers said that such acts of aggression are unacceptable under all circumstances and particularly alarming when they come from a state that has repeatedly defied global norms and used military force to destabilize the region. This attack represents an escalation that could spiral into a larger conflict, with devastating consequences for millions. Copyright Business Recorder, 2025
Business Recorder
13-06-2025
- Business
- Business Recorder
Budget: LCCI urges govt to address concerns ahead of NA debate
LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has urged the government to ensure immediate consultations with the business community to address concerns before the National Assembly finalizes the Federal Budget 2025-26 where it would be presented for debate. LCCI President Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman and Vice President Shahid Nazir Chaudhry in a statement called for urgent revisions. They said the government had projected GDP growth at 4.2 percent, up from the current 2.7 percent. They said the budget overlooks systemic flaws. 'The growth estimates ignore ground realities, high cost of doing business, energy shortages and inconsistent policies which are affecting industrial output. The government must revisit these projections to avoid fiscal shortfalls later.' The LCCI office-bearers said the debt servicing still consumed a significant portion of the budget. Mian Abuzar Shad said that IMF-mandated subsidy cuts which would hurt low-income groups. They added that the imposition of an 18 percent sales tax on imported solar panels has also drawn sharp criticism. They said that this move contradicts Pakistan's renewable energy goals, adding 'instead of taxing solar imports, the government should incentivize local manufacturing and R&D to reduce dependence on foreign products.' Mian Abuzar Shad said that below the mark allocations would affect health, education and infrastructure. They said that slashing social sector funding for short-term fiscal adjustments will harm long-term growth. The government must rebalance allocations to prioritize human development. The LCCI office-bearers said the business community was not satisfied on taxation measures at all and there was a dire need of revisiting these with the consultation of stakeholders. They said the growth and tax targets should be revised realistically, focusing on expanding the tax net rather than overburdening existing taxpayers. They demanded of the government to prioritize the construction of new water reservoirs and the modernization of existing infrastructure to address Pakistan's worsening water crisis. With agriculture contributing nearly 24 percent of GDP and employing over 37 percent of the labour force sustainable water management is essential for economic stability. They said the work on Diamer-Bhasha Dam and other pending projects must be fast-tracked to enhance water storage capacity. They also suggested that the Public-private partnerships (PPP) should be encouraged to secure funding and expertise. LCCI President Mian Abuzar Shad said the funds should be allocated for rainwater harvesting in arid zones to reduce reliance on groundwater, adding the industries should be incentivize to adopt water recycling plants. LCCI President warned that without urgent action, Pakistan could face severe water shortages by 2030, crippling agriculture and industry. He said 'we need immediate investments in reservoirs, or our economy will suffer irreversible damage.' The LCCI office-bearers said the funds for health and education should be increased to ensure sustainable development. They said the government should formulate a clear solar policy with consistent subsidies, net-metering rules, and support for local manufacturing. The LCCI President urged the government to engage in immediate dialogue with stakeholders to address those concerns. He said the budget in its current form would risk stifling economic recovery. 'We hope the government will act on our recommendations before it's too late,' he added. He said that as the National Assembly prepares to debate the budget, policymakers must incorporate feedback from the business community to ensure a balanced and growth-oriented fiscal plan. Meanwhile, Sardar Usman Ghani, Central Chairman of Pakistan Hardware Merchants Association, while rejecting the decision to impose 18 percent tax on imported solar panels in the current budget, has warned that the move would cause irreparable damage to the process of generating cheap and clean electricity. He said it was incomprehensible that the Minister of Finance had given that explanation to protect the local solar panel manufacturing industry, firstly the solar panel industry was almost non-existent in Pakistan and secondly, that move would significantly increase the prices of solar panels. The protection to industry at the cost of public is not a step towards right direction. Public representatives in the government and opposition parties do not allow it to be approved in the budget. Copyright Business Recorder, 2025
Express Tribune
13-06-2025
- Business
- Express Tribune
Traders seek urgent consultation
Listen to article The Lahore Chamber of Commerce and Industry (LCCI) has urged the government to ensure immediate consultations with the business community to address their concerns before the National Assembly finalises the federal budget for 2025-26. LCCI President Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman and Vice President Shahid Nazir Chaudhry in a statement called for urgent revisions. They said that the government has projected GDP growth at 4.2%, up from the current 2.7%, adding that the budget overlooks systemic flaws. The growth estimates ignore ground realities, high cost of doing business, energy shortages and inconsistent policies which are affecting industrial output. "The government must revisit these projections to avoid fiscal shortfalls later." The LCCI office-bearers said that debt servicing still consumes a significant portion of the budget and the IMF-mandated subsidy cuts will hurt low-income groups. The imposition of 18% sales tax on imported solar panels has also drawn sharp criticism. They said that this move contradicts Pakistan's renewable energy goals. Instead of taxing solar imports, the government should incentivise local manufacturing and R&D activity to reduce dependence on foreign products. Mian Abuzar Shad said that below-the-mark allocations would affect healthcare, education and infrastructure. Apart from that, slashing social sector funding for short-term fiscal adjustments will harm long-term growth. "The government must rebalance allocations to prioritise human development."
