LCCI President Faheemur Rehman Saigol. Photograph (file)
LAHORE:
President of the Lahore Chamber of Commerce & Trade (LCCI) Faheemur Rehman Saigol has voiced concern over Pakistan’s widening commerce deficit, which crossed $25 billion in the course of the first eight months (July-February) of fiscal yr 2025-26, and urged the federal government to take pressing coverage measures to stabilise the financial system.
Referring to the newest knowledge launched by the Pakistan Bureau of Statistics (PBS), Saigol mentioned the deficit signalled deep-rooted structural challenges throughout the financial system. He warned {that a} deficit of such magnitude posed a severe menace to Pakistan’s macroeconomic stability.
In response to Saigol, the simultaneous decline in exports and surge in imports mirrored structural weaknesses that required speedy coverage intervention. He referred to as on the federal government to revisit commerce and industrial insurance policies and formulate a complete export-led technique centered on diversification, industrial assist and discouragement of non-essential imports.
The LCCI president additionally raised issues over renewed inflationary pressures. Client Value Index (CPI)-based inflation rose to 7% on a year-on-year foundation in February 2026, in contrast with 5.8% in January 2026 and 1.5% in February 2025.
He noticed that escalating electrical energy tariffs, gasoline costs and meals prices have been eroding customers’ buying energy whereas rising manufacturing prices for companies. The upper price of doing enterprise, he mentioned, was additional straining home business at a time when the exterior account remained beneath strain. He urged the federal government to evaluation the vitality pricing framework and rationalise taxes and surcharges that, he mentioned, have been inserting extreme burdens on each customers and business.
He referred to as for a coherent and business-friendly financial roadmap geared toward decreasing the commerce deficit, controlling inflation, strengthening home industries and making certain fiscal self-discipline.
Saigol reiterated that the Lahore Chamber of Commerce & Trade and the broader enterprise group have been able to work with the federal government to handle financial challenges and assist efforts towards sustainable and inclusive development.
