Lahore - Starting a business should be made easy to improve Pakistan’s ranking in ease of doing business index, said Lahore Chamber of Commerce & Industry (LCCI) President Almas Hyder.

“We would have to come at par with the developed nations to strengthen our economy,” he said in a statement here on Monday. He said that government would have to separate registering a company from regulating the company.

He said that starting business in Pakistan is a hefty task and one of the major reasons behind economic woes of Pakistan.

He said that ease of doing business in Pakistan is below average with the international ranking of 136th. Singapore topped in this ranking from 2007 to 2016 while New Zealand is topper since 2017.

Exports of Singapore jumped to $ 396.8 billion in 2017 from $ 338 billion in 2016. Likewise, exports of New Zealand, which has population of around 4.5 million people, jumped to $ 37.35 billion in 2017 from 33.61 billion in 2016.

The LCCI President said that Securities & Exchange Commission of Pakistan, Bank, Tax Facilitation Center of the Regional Tax Offices, Federal Board of Revenue, Excise & Taxation Department of the District, Punjab Employees Social Security Institution and Labor Department of Punjab involved in starting a business as compared to New Zealand where only Companies Office is doing all of this.

Likewise, Lahore Chamber of Commerce & Industry Standing Committee on Fast Moving Consumers Goods (FMCG) has demanded of the government to separate daily use items from the list of luxury items for ensuring provision of quality imported items to the consumers on reasonable price.

The demand was raised at the maiden meeting of the Standing Committee which held at the LCCI here on Monday with convener of the committee Ejaz Tanveer in the chair.

The meeting was also attended by Nafees ur Rehman Barry, Sheikh Khalid, Ali Tariq Matto, Zeeshan Bukhshi, Tariq Matto, Faisal Arshad, Khalid Mhmood, Ihsan Ullah, Kashif Javed, Waqas Arshad and Noman Usman.

The meeting reviewed various proposals to be submitted to the government with regard to their incorporation in the coming trade policy. Ejaz Tanveer asked the members to complete their proposals at the earliest for submission to the ministry concerned.

The meeting urged the government to separate luxury items from the daily use items to keep their prices reasonable.

The meeting also urged the government to facilitate the importers who are paying taxes so they can fully play their role for the betterment of the national economy.