LCCI, carpet association ink MoU to improve relations.

LAHORE -- The Lahore Chamber of Commerce and Industry (LCCI) and Pakistan Carpet Manufacturers and Exporters Association (PCMEA) have inked a Memorandum of Understanding (MoU) to foster stronger trade relations, here at PCMEA office on Sunday.

The agreement was signed during a visit by LCCI President Kashif Anwar to the PCMEA where the association's Senior Vice Chairman Usman Ashraf welcomed him. Kashif Anwar also visited the Carpet Training Institute (CTI) and observed the intricate process of handcrafting carpets.

During the visit, LCCI President Kashif Anwar highlighted the importance of robust trade relations between various trade organizations and chambers. He emphasized the need for effective collaboration in an ever-evolving global economic landscape.

Kashif Anwar noted the increase in business costs, particularly related to utilities. However, he expressed optimism that the stability of the Pak rupee would contribute to a more favorable business environment. He underscored that continued government policies in the same vein would further strengthen the rupee's value.

The LCCI president said that it was imperative to reduce input costs and utility prices for exports to thrive. He underlined the significance of fostering a strong partnership between the business community and the government, adding that a stronger rupee is crucial for boosting exports as majority of the raw materials, including those used for export products are being imported from various countries and a weak currency is not suitable for exports as well.

Kashif Anwar said that construction of the Kalabagh Dam is indispensable, arguing that its absence puts the nation's future at risk. He called for a shift toward Islamic banking and a move away from interest-based economic models...