President LCCI for urgent, decisive policy measures to stabilize economy

LAHORE: President of the Lahore Chamber of Commerce & Industry, Faheem ur Rehman Saigol, has expressed deep concern over Pakistan’s rapidly widening trade deficit and mounting economic pressures, urging the government to adopt urgent and decisive policy measures to stabilize the economy and protect domestic industry.

Referring to the latest data released by the Pakistan Bureau of Statistics (PBS), Faheem ur Rehman Saigol noted that Pakistan’s trade deficit has crossed USD25 billion during the first eight months (July–February) of fiscal year 2025–26, signaling growing structural challenges within the economy.

Faheem ur Rehman Saigol stated that a deficit of such magnitude poses a serious threat to Pakistan’s macroeconomic stability. He emphasized that the simultaneous decline in exports and surge in imports reflects structural weaknesses requiring immediate policy intervention.

He urged the government to revisit trade and industrial policies and develop a comprehensive export-led strategy focused on diversification, industrial support, and discouragement of non-essential imports.

LCCI President also expressed concern over renewed inflationary pressures. Consumer Price Index (CPI)-based inflation increased to 7 percent on a year-on-year basis in February 2026, compared to 5.8 percent in January 2026 and 1.5 percent in February 2025.

He observed that escalating electricity tariffs, fuel prices, and food costs are eroding purchasing power while simultaneously increasing production costs for businesses.

Faheem ur Rehman Saigol called on the government to review the energy pricing framework and rationalize taxes and surcharges that are placing excessive burdens on both consumers and industry.

He urged the federal government to formulate a coherent, business-friendly economic roadmap aimed at reducing the trade deficit, controlling inflation, strengthening domestic industries, and ensuring fiscal discipline.

He reaffirmed that the Lahore Chamber of Commerce & Industry and the broader business community remain committed to working closely with the government to overcome economic challenges and place Pakistan on a path of sustainable and inclusive growth.