LAHORE – The Lahore Chamber of Commerce & Industry has urged the government to address the genuine reservations of the business community through policy reforms. In a statement issued on Thursday, LCCI acting president Khawaja Shahzad Nasir and Vice President Faheem-ur-Rehman Saigal said that economy was shrinking due to high cost of doing business, unfavorable business atmosphere, cumbersome taxation system and various other challenges. Government would have to take policy measures for creating business friendly atmosphere, they said, adding that government has withdrawn duties on more than 1600 items but has also imposed additional customs duties on 3000. They said that additional customs duty should be withdrawn immediately as it has increased the input cost of the industrial sector besides burdening the common man. They also called for restoration of zero-rating regime for five export oriented sectors. They said that State Bank of Pakistan should immediately reduce markup rates.