LCCI President Calls for Business-Friendly Approach to Any New Austerity Measures

Urges Government to Protect Commercial Activity While Pursuing Fuel Conservation
By Muhammad Shahzad | Lahore, Pakistan
LAHORE: President of the Lahore Chamber of Commerce and Industry (LCCI), Faheem ur Rehman Saigol, has urged the government to ensure that any fuel conservation or austerity measures introduced in response to rising international oil prices and mounting foreign exchange pressures do not adversely affect business, trade, or industrial activity.
Commenting on reports that the government is considering the reintroduction of fuel-saving measures, Saigol said the business community fully understands the need for prudent resource management during challenging economic conditions. However, he cautioned that restrictions on commercial operations could have serious consequences for economic growth, employment, and revenue generation.
He noted that businesses are still adapting to reduced operating hours in several sectors, warning that any further cuts in business timings would negatively impact trade volumes, retail activity, supply chains, and industrial productivity at a time when the economy requires stronger momentum rather than additional constraints.
Recalling the impact of previous restrictions, the LCCI President said reduced business hours had led to lower customer footfall, disrupted commercial transactions, and increased operational difficulties for traders and industrialists. Further curtailment of business hours, he warned, could undermine efforts to stimulate economic activity, reduce tax revenues, and weaken investor and business confidence.
Saigol emphasized that the private sector is the primary engine of economic growth and should be facilitated rather than constrained. He urged policymakers to consult chambers of commerce, trade bodies, and industry representatives before finalizing any austerity framework to ensure practical and balanced solutions.
He suggested that the government prioritize alternative conservation measures that do not disrupt productive economic activity, including improving energy efficiency, digitizing government operations, reducing non-development expenditures, and strengthening public sector resource management instead of imposing additional restrictions on businesses.
Saigol further observed that Pakistan’s economic recovery remains fragile and requires sustained support for trade, industry, and exports. Policies that inadvertently reduce business activity, he said, could slow economic growth, affect employment opportunities, and diminish the competitiveness of Pakistani enterprises.
Reaffirming the Chamber’s commitment to supporting national efforts aimed at economic stability and efficient resource utilization, he stressed that any austerity measures should strike a balance between conservation objectives and the need to maintain robust commercial and industrial activity.
“The business community stands ready to cooperate with the government in addressing national economic challenges, but austerity measures must not come at the cost of trade, industry, and economic growth. Protecting business activity is essential for sustaining jobs, investment, exports, and government revenues,” Faheem ur Rehman Saigol concluded.