Govt urged to restore regular LCs opening with availability of foreign exchange.

ISLAMABAD -- The President SAARC Chamber of Commerce and Industry Iftikhar Ali Malik Tuesday urged the government for immediate restoration of the opening of letters of credit with the availability of foreign exchange for the import of raw materials putting industries into gear.

Chairing an emergent meeting of the 'Founder' group of Lahore Chamber of Commerce and Industry (LCCI) to discuss the prevailing economic scenario, he said a total of 13 senior former presidents of Lahore chamber, Mian Muhammad Ashraf, Sheikh Muhammad Asif, Tariq Hameed, Mian Muzaffar Ali, Bashir Bakhsh, Mian Misbah Ur Rehman, Shahzad Ali Malik, Almas Hyder, Farooq Iftikhar, Shahid Hassan Sheikh, Abdul Basit and Tariq Misbah were invited to share their points of view and suggest viable solutions for prompt economic revival.

Iftikhar said Prime Minister Shehbaz Sharif and Federal Finance Minister Senator Ishaq Dar both belong to founder group and as former presidents of Lahore chamber, they are rightly expected to understand and steer the economy out of financial crunch.

Iftikhar Ali Malik who is Chairman founder group said what we need urgently is...