Govt urged to introduce strategic economic reforms

LAHORE:Senior Vice President of the Lahore Chamber of Commerce and Industry Engineer Khalid has delivered a powerful and insightful address at a pre-budget seminar organised by a private university.

Former LCCI Vice President Faheem-ur-Rehman Saigol, former federal and provincial office holders and leading economic experts also participated. Engineer Khalid Usman highlighted the challenges Pakistan has recently overcome on the geopolitical front. He said that Pakistan had successfully concluded a difficult phase of conflict, a war that was essentially imposed on the nation. He said that by the grace of Almighty Allah, we have emerged with dignity and honour, even surpassing the expectations of our adversaries.

However, he said that the real and more complex war lies ahead on the economic front. He said that the national budget should not merely be a financial document, it should serve as a strategic roadmap and a symbol of collective optimism for the country’s future.

He lamented the lack of transparency and consultation in the budget-making process, said that the business community is often left in the dark. He demanded the government consult traders not just to avoid surprises, but to ensure alignment between national priorities and business realities.

Speaking on Pakistan’s core economic challenge, Engineer Usman outlined the fundamental issue which is the imbalance between dollar inflows and outflows. He said that our biggest economic problem is that we do not earn enough foreign exchange. We import more than we export. We rely on remittances and loans instead of building sustainable, export-driven growth.