LAHORE - The Lahore Chamber of Commerce Monday appreciated the federal government for accepting a number of its demands in the new Trade Policy, however, it stressed the need for technological advancement to cope with multiple challenges being faced by the local industry. In a statement issued here, the LCCI President Mian Muzaffar Ali, Senior Vice President Tahir Javaid Malik and Vice President Irfan Iqbal Sheikh said that the establishment of Hedge Fund, life insurance cover to international buyers intending to visit Pakistan would help stabilize the economy of the country. They said that the government would have to take and implement a proper strategy to overcome supply side constraints, including the development of infrastructure. The LCCI office-bearers said that the hedge fund would help contain the cost of capital, cost of imports and inflation for export-oriented industries by bearing the additional cost from the said fund. They said that the insurance cover to foreign buyers is an important step as this would encourage them for a visit to Pakistan thus paving way for the local industries to fetch export orders. They however urged the government to ensure implementation on the policies announced for the economic revival of the country. There is no doubt in it that the policy for a three-year term is bound to yield positive results as it would ensure continuity in trade-related policies that is a long standing demand of the Lahore Chamber of commerce and Industry. The LCCI office-bearers said that the government decision to motivate commercial attaches posted abroad to attract foreign investors would go a long way in the revival of the economy but it would have to focus on product diversification to increase to volume of exports to the desired levels.