LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) on Monday has expressed deep sorrow and grief over the tragic fire incident at Gul Plaza, a busy commercial centre in Karachi, terming it a major human and economic tragedy for the country. LCCI President Faheem Ur Rehman Saigol said that the loss of precious human lives, reports of dozens of missing persons, and the destruction of hundreds of businesses in the Gul Plaza fire is a heartbreaking incident that has left the entire national business community in mourning. He said that according to initial reports, dozens of shops have been completely destroyed, while the livelihoods of hundreds of families have been affected, at a time when they are already facing inflation and economic pressure. The LCCI president said that Karachi is Pakistan’s one of the largest commercial and industrial hub, and incidents of this nature not only endanger human lives but also seriously damage business confidence, the investment climate, and market continuity. He stressed that affected traders, shopkeepers, and business owners must be provided immediate, transparent, and full financial compensation so that they can rebuild their businesses. LCCI Senior Vice President, Tanveer Ahmed Sheikh, said that the lack of effective fire safety arrangements in major commercial centres like Gul Plaza raises serious concerns. He demanded an independent forensic investigation into the incident, identification of those responsible, and strict enforcement of fire safety laws in all commercial buildings to prevent such tragedies in the future. He added that fire audits and improved emergency response systems in commercial areas across the country are an urgent need. The LCCI leadership expressed heartfelt condolences to the families of those who lost their lives and said that the entire business community stands with the affected families in this difficult time. The Chamber also called on the federal and provincial governments to ensure justice for the victims and to formulate a comprehensive and practical policy to prevent such incidents in the future and make commercial centers safer across the country. Copyright Business Recorder, 2026