LAHORE: The Lahore Chamber of Commerce & Industry has expressed deep concern over the increasing number of raids on business premises by the Employees Old age Benefit Institution (EOBI) and termed them a direct threat to economic stability, investor confidence and the overall business environment. In a statement, LCCI President MianAbuzar Shad, Senior Vice President Engineer Khalid Usman, and Vice President ShahidNazirChaudhry urged the authorities to put an immediate halt to such coercive measures that are causing anxiety and distress among traders and industrialists. The LCCI office-bearers said that businesses are the backbone of the economy and their harassment through surprise raids and unjustified inspections sends a negative signal to both local and foreign investors. The business community is already facing immense challenges due to inflation, high energy costs and economic instability. Instead of facilitating businesses, subjecting them to unnecessary raids and intimidation will further damage the fragile economic landscape. If traders and industrialists are not provided a secure and supportive environment, economic revival will remain a distant dream. They further added that respect for businesses and industrialists is crucial for economic growth and such heavy-handed tactics will only result in a loss of trust between the government and the business community.
\nThey demanded an immediate review of these actions and call for transparent policies that ensure businesses are treated with dignity and fairness.
\nThey said that that raids disrupt normal business operations, discourage entrepreneurship and create a hostile economic environment. \u201cBusiness premises should not be treated as crime scenes. If there are any regulatory concerns, they should be addressed through dialogue, legal procedures, and consultation rather than coercion and harassment. The government must work towards policies that promote ease of doing business instead of instilling fear among business owners,\u201d they added.
\nThe LCCI office-bearers called upon the government to take the business community into confidence and adopt a consultative approach when addressing issues related to taxation, regulations and compliance. If there are legitimate concerns, they should be discussed in a structured manner with stakeholders. Conducting raids without prior engagement not only damages business sentiment but also portrays a negative image of the country\u2019s economic policies. LCCI stands firm with its members and will not tolerate unjust treatment of traders and industrialists.
\nThe LCCI leadership urged the government to immediately intervene and put an end to these disruptive actions, emphasizing that the business community should be treated as a key partner in economic progress, not as a target of intimidation. They also called for a clear and transparent policy framework that ensures businesses can operate smoothly without the fear of undue interference.<\/p>\n","protected":false},"excerpt":{"rendered":"
LAHORE: The Lahore Chamber of Commerce & Industry has expressed deep concern over the increasing number of raids on business premises by the Employees Old age Benefit Institution (EOBI) and termed them a direct threat to economic stability, investor confidence and the overall business environment. In a statement, LCCI President MianAbuzar Shad, Senior Vice President […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-461270","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n