IPRs must be part of businesses: LCCI
LCCI President said that scope and importance of IPRs could not be underestimated.
LAHORE (APP) - Lahore Chamber of Commerce and Industry (LCCI) on Thursday called for making Intellectual Property Rights (IPRs) an essential part of the businesses saying that IPRs were the most valuable asset for businesses in the West but here in Pakistan still a lot of work had to be done in this direction.
LCCI President Malik Tahir Javaid said here that scope and importance of IPRs could not be underestimated particularly with reference to safeguarding the interest and future prospects of business community. He said there could be no second opinion to this fact that IPRs were critical for competitive economy in the backdrop of ongoing globalization.
The new concept of IPRs-based nation was gaining ground because it was Intellectual Property Rights that enabled technology creation and technology transfer by providing the necessary environment.
Malik Tahir Javaid urged the private sector of Pakistan not to neglect Intellectual Property Rights at any cost because these set their businesses apart from competitors, provided an important revenue stream, offered customers something new and different and form an essential part of their marketing or branding.
He said that government should protect and vigorously enforce IPRs.
LCCI President said that massive public awareness campaign should be undertaken for sensitizing the consumers about their legitimate rights to opt for genuine and branded products and services. He said that government should also make efforts to curb counterfeiting and piracy with the support of Police, Federal Investigation Agency (FIA) and Pakistan Customs.
He said that manufacturers of counterfeit products were not only depriving the government of much-needed revenue but also denting the reputation of the genuine manufacturers because the fake products were of low quality.
Meanwhile, LCCI Senior Vice President Khawaja Khawar Rasheed and Vice President Zeshan Khalil said that the FBR should make foolproof arrangements to check the import and manufacturing of counterfeit products in the country.
They said that a genuine product took three to four decades to get on its feet but a manufacturer of counterfeit product nullified all the efforts in a few days therefore a mechanism should be put in place to reinforce anti-piracy laws. They also urged the government to launch a campaign to create awareness among the masses against counterfeit products.
