Lahore (HRNW) – Lahore Chamber of Commerce and Industry (LCCI) President Faheem-ur-Rehman Sehgal has stressed the need for comprehensive economic reforms and public relief measures, stating that economic stability is essential for Pakistan’s long-term growth and national strength.
Addressing a pre-budget seminar organized by the Pakistan Central Muslim League’s Department of Industry and Commerce in Lahore, Sehgal said that while institutions and businesses regularly prepare financial plans and budgets, uncertainty often arises among the public and business community before the announcement of the national budget.
He noted that Pakistan has faced persistent trade deficits and deficit budgets for several decades, emphasizing that structural economic reforms are necessary to place the economy on a sustainable path. He added that a strong economy serves as the foundation of a strong national defense.
Referring to Pakistan’s ongoing International Monetary Fund (IMF) program, Sehgal said that the arrangement is expected to conclude in 2027 and highlighted the importance of making key economic adjustments during this period.
He also emphasized the importance of encouraging business activity and investment, while noting that Pakistan’s youth population represents one of the country’s greatest strengths. According to him, nearly 65 percent of the population consists of young people, creating significant opportunities for economic development and prosperity.
During the seminar, participants presented a range of proposals, including tax relief for salaried individuals, increasing the minimum wage to Rs. 60,000, reducing electricity and gas prices, promoting solar energy, providing subsidies to the agricultural sector, introducing relief packages for small businesses and industries, reforming the Federal Board of Revenue (FBR), creating employment opportunities for youth, controlling inflation and stabilizing petroleum product prices.
Speakers at the event reaffirmed their commitment to advocating for economic stability, public welfare and policies aimed at strengthening the country’s economic future.
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