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LCCI for govt not to ask source of investment for two years

LCCI for govt not to ask source of investment for two years

LAHORE: Lahore Chamber of Commerce & Industry (LCCI) on Thursday demanded the government not to ask about the source of investment from investors for at least two years.

In a statement, LCCI President Irfan Iqbal Sheikh said that the exemption was direly needed for the revival of industries and to bring money in circulation.

He said that lockdown because of coronavirus had created a serious economic situation which had particularly upset the business community.

The LCCI President said that hopefully lockdown would end soon but after that cash flow would become a major issue.

In order to overcome this problem, he said the government should announce immediately that investors would not be asked about their sources of investment.

He said that this important step would bring capital to the market, expand industries, help them to recover and flourish, generate employment opportunities and would enhance the government’s revenue.

Irfan Iqbal Sheikh said that investment to GDP ratio was very important to achievethe economic goals and for this purpose, the government would have to take extraordinary measures.