LAHORE - The Lahore Chamber of Commerce and Industry (LCCI) and Institute of Cost and Management Accountants of Pakistan (ICMAP) Thursday inked Memorandum of Understanding (MoU) that would pave way for joint research, training programmes, seminars and workshops on economic issues.
The LCCI Senior Vice President Irfan Iqbal Sheikh signed MoU of behalf of the Lahore Chamber of Commerce and Industry while ICMAP was represented by its President Ziaul Mustafa Awan. LCCI Vice President Mian Abuzar Shad, Convener LCCI Standing Committee on Training and Development Awais Piracha and Executive Committee Member Mian Zahid Javaid also spoke on the occasion.
As per MoU, both the organizations would work jointly for the economic development of the country through facilitation to each other’s members. It was also agreed that the LCCI and ICMAP would conduct a joint study to prepare proposals for tax reforms in the country and for broadening of the tax net.
Speaking on the occasion, the LCCI Senior Vice President Irfan Iqbal Sheikh said that the Memorandum of Understanding between LCCI and ICMAP is a significant step in bringing the institutions/academia and trade, industry together. He said that the economic challenges being faced by the country need tailor-made and workable solutions and this is only possible through strong academia and industry linkage. The LCCI Senior Vice President said that there is no dearth of resources in Pakistan but it is far behind in the economic race because we have failed to properly tap these resources.
He said that in the developed economies there is a strong linkage between the academia and industry and Pakistan today also needs to adopt that pattern to overcome its multiple issues.