Trade ICCI signs MoU with VCCI to assist in its Operations and Development

May 6, 2013 Off By Web Desk

Islamabad: Islamabad Chamber of Commerce & Industry ICCI organized a luncheon meeting in honour of newly elected office bearers of Vehari Chamber of Commerce and Industry VCCI. ICCI also signed a MoU with VCCI and assured all sorts of support and assistance to the newly formed Vehari Chamber of Commerce and Industry. Director General Trade Organizations, Ministry of Commerce, Mr.Javed Qureshi was also present on the occasion.

Speaking on the occasion, Mr.Zafar Bakhtawari, President ICCI said that Islamabad Chamber would help the Vehari chamber in coping with the difficulties which it may face, as it was in the initial phase of its development.

He would definitely accelerate and flourish business activities in the south Punjab and also expressed hope that this Chamber would play its pivotal role with the collaboration of all Chambers and Trade Associations for the promotion of trade and industry and for the uplift and economic development of this area.

Mr.Bakhtawari said that Private sector is the backbone of county’s economy and considered to be an engine of economic development, therefore, they should be given representation in the Government institutions, which would ultimately create an environment of trust between the business community and Government.

It is necessary that people with knowledge of economy should be part of the policy making as budget formulation exercise has begun and their representation is vital in this regard, he maintained.

He was of the view that our economy is facing many challenges, so there is a dire need to formulate prudent economic policies with consultation of business community. He said that the only way can get the economy to grow sustainably is through a strong private sector so the government and the private sector needs to develop strong coordination.

Mr.Javed Qureshi Director General Trade Organizations said that formation of chambers and trade unions in small districts will usher an era of progress and development in the area. He expressed his confidence that the Vehari chamber will play an important role in uplift of the district and assured the office bearers of the chamber his full support.

Mr.Munawar Mughal, former President ICCI also assured full support to VCCI in its operations and development and said that close liaison among all the Chambers of Commerce is necessary is vital to promote trade activities in the country.

Hafiz Mehmood Ahmed Shad, President of Vehari Chamber of Commerce and Industry thanked ICCI and DG Trade Organizations for their help and support in the formation of VCCI. He said that the energy crisis has adversely affected the economic conditions in Vehari, as the economy of the areas depends upon cotton, wheat and other crops.

He said that the situation has not only disturbed performance of the growers but also of trader activities and people belonging to other walks of lives. He urged the Government to take urgent notice of this situation so that industries and businesses could flourish.