LAHORE, Feb 27: The Lahore Council for World Affairs (LCWA) and the Lahore Chamber of Commerce and Industry (LCCI) will be sharing resources to motivate foreign investors and enhance regional economic cooperation.

A decision to this effect was taken at a meeting between LCWA President, Ambassador Javaid Hussain, and LCCI President Farooq Iftikhar here on Wednesday.

Comprising former ambassadors and distinguished citizens from various walks of life, the LCWA is an independent and non-profit organisation established in May 2012 with focus on economic challenges.

Working of trade missions abroad, decline in investment, energy shortage, corruption and a lack of infrastructure were the areas that came under discussion.There was a consensus that the LCWA would develop comprehensive guidelines for Pakistan’s trade missions abroad so that they could be able to enhance exports and increase foreign investment in Pakistan.

The LCCI asked the LCWA to also prepare a report on regional economic cooperation to exploit regional trade potential as the existing forums have failed to tap the trade potential.

It was also agreed that both sides would jointly conduct seminars and workshops for the business community on the economic issues.

LCCI President Farooq Iftikhar was of the view that the government would have to initiate construction of large water reservoirs to bridge the fast widening electricity demand and supply gap. He said that Kalabagh Dam had been the only project that could be completed in minimum possible time because all other dams required a long time for completion and by that time the electricity demand in the country would jump manifold.

Mr Iftikhar said that the business community was equally disturbed over the decline in local and foreign investment and demanded that the government should take measures to restore the investor’s confidence.

He said the government would have to sit with the private sector to arrest the economic meltdown that had been sending wrong signals abroad and keeping the investors from putting their money in new ventures in Pakistan.