LCCI calls for national unity, charter of economy

Author: APP

In the wake of four days of intense political unrest, the Lahore Chamber of Commerce and Industry (LCCI) urged all political parties on Saturday to set aside their differences and prioritise revival of the national economy.

LCCI President Kashif Anwar told the media here that due to tense political situation, the nation faced staggering economic losses worth billions of rupees as well as tragic loss of life and property.

Citing the latest data, released by economic analysts, he said the ongoing political unrest had resulted in an estimated loss of over Rs 10 billion to the country’s economy. This figure included the direct impact on businesses, the decline in consumer spending, disruptions in supply chains, and the adverse effects on investor confidence. The unrest had also dealt a severe blow to multiple sectors including manufacturing, tourism, and services.

President Kashif Anwar called for national unity and emphasised the need for a cohesive and concerted effort to address the economic challenges at hand. He proposed the signing of a comprehensive Charter of Economy, which should be aimed to attract foreign direct investment (FDI) and promote local investment as key drivers of economic recovery.

Kashif Anwar said the proposed Charter of Economy would encompass a range of strategic measures including policies to enhance the ease of doing business, establish investor-friendly regulations, develop robust infrastructure, and foster a conducive environment for domestic and international investors. These initiatives were designed to revitalize economic growth, generate employment opportunities, and stimulate sustainable development across various sectors.

“As the nation grappled with the aftermath of recent political unrest, the implementation of a comprehensive Charter of Economy stands as a beacon of hope, offering a pathway to economic recovery and the restoration of investor confidence,” he said and added that time was now for political parties to heed the call for unity and charting a course towards a resilient and thriving national economy.