Trade: (FPCCI demands ease of doing business in budget proposals)

ISLAMABAD: The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) has asked the government to focus on ease of doing business which will attract much needed investment to trigger economic growth in the country.

It also asked government to undertake meaningful reforms covering all the sectors and take steps to broaden tax base, immediately pay exporters refunds, facilitate establishment of new industries to create jobs and improve revenue.

The demands came during a meeting between Finance Minister Ishaq Dar and FPCCI delegation led by its President Abdul Rauf Alam. Advisor to Prime Minister Haroon Akhtar Khan, Chairman FBR Nisar Mohammad Khan, members of FBR Rehmatullah Khan Wazir, Dr. Mohammad Irshad, and Nasir Masood were also present on the occasion.

During the 4-hour meeting, the FPCCI officials lauded the government for rate of revenue growth which has risen to 19.7 percent and asked additional steps to strengthen tax administration.

They furnished proposal to improve Sales Tax, Income Tax and Customs Duty regime. The delegation of business community was assured that the proposals would be considered and that their support is needed to meet revenue target of Rs 3100 billion for current year.

At the occasion, Finance Minister said that we would continue tradition of consulting the stakeholders before making important decisions as encouraging private sector is imperative for national development.

Budget proposals given by representatives of the business community would be accorded due consideration and refund mechanism will be reviewed, he added.

He said government is highly appreciative of the contribution of traders and business community towards strengthening of economy and promotion of tax culture.

The FPCCI delegation included SVP FPCCI Shaikh Khalid Tawab, CEO TDAP SM Munir, Chairman UBG Iftikhar Ali Malik, SG UBG Zubair Tufail, VP FPCCI Zafar Bakhtawari, Gulzar Feroz, Shakil Ahmed Dhingra and Malik Sohail Hussain.