Public-private partnership essential for economic stability

LAHORE – Punjab Board of Investment in collaboration with Lahore Chamber of Commerce and Industry organised an interactive conference, “Punjab – Our Pride, Your Potential”, at LCCI. The conference was attended by Chief Executive Officer Punjab Board of Investment and Trade, Senior Vice President and Vice President Lahore Chamber of Commerce and Industry, Political Officer of US Consulate in Lahore and other key businessmen and government officials.

The objective of the conference was to showcase the services that PBIT is providing to promote investment friendly environment of Punjab and also addressed the concerns being faced by the business community regarding the investment policies.

A large number of key businessmen actively participated in the conference. Khawja Khawar Rasheed, Senior Vice President Lahore Chamber of Commerce & Industry appreciated the PBIT’s proactive approach of outreaching the business community of Punjab. He praised the efforts of Chief Minister Punjab in making Punjab a business destination.

Talking at the occasion, Jahanzeb Burana briefed the forum about the initiatives that PBIT is taking to promote healthy and vigorous business atmosphere in the province. He proposed to form a “Working Group” of prominent businessmen and concerned government personnel to work hand-in-hand for the promotion of investment climate of Punjab. He further updated the forum that a Transaction Department has recently been formed at PBIT to identify the potential investment projects for the local investors. He invited the local investors to invest in these projects and take full benefit from the rapidly improving investment climate of Punjab.

Khawja Khawar Rasheed, Senior Vice President LCCI stressed that the government should implement a combination of policy reforms, institutional support, incentives and financing modalities to bolster private sector participation in financing, developing and managing future investment projects. Sectors, such as energy have already developed independent and effective regulators, and these can be expanded across other sectors in the future, he added.

Speakers on this occasion emphasized that public-private partnership is essential for the long term economic stability. It is vital for planning and identifying economic needs of the region and focusing on developing national, provincial and local sector specific policies. For the private sector the key is to deliver actively the infrastructure and facilities required by the public sector and the consumers.

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