Islamabad: Vice President of the FPCCI Sheikh Imtiaz Ahmed on Wednesday said greater trade is the only way to strengthen bilateral relations with India which can help both neighbours prosper in short span.
He said that free trade with India would not eliminate our industry or agriculture rather it would be beneficial for both the countries and their people.
The volume of informal trade and trade through third countries must be reduced to ensure persistent growth in the formal trade, said Sheikh Imtiaz Ahmed while talking to various delegations led by President of Chamber of Small Traders Kamran Abbasi, President of Anjuman-e-Tajiran Islamabad Sheikh Saleem, President Traders Welfare Association Ajmal Baloch and President IWCCI Samina Fazil.
He said that informal trade worth billions of dollars is taking place among the Saarc countries while a sizeable quantity of find their way to Pakistan through third country.
A turnaround is possible if India and Pakistan resolve their disputes through ensuring better life for over a billion people who had so far experienced poverty, illiteracy and non-existence of basic facilities, the business leader noted.
Commenting on the increasing indirect taxation, he noted that Pakistan has become one of the most taxpaying societies.
Regressive indirect taxation would not serve any purpose, poorest of poor are being forced to pay more, he said, adding that achieving revenue targets will remain a far cry until radical reforms and restructuring is carried out in the tax administration.
On the occasion, leaders of the trading community of Islamabad drew attention of VP FPCCI towards problems in the taxation procedures without information by authorities and called for clear taxation policy.
They also offered unconditional cooperation to the FPCCI and ensured to explore new areas of cooperation.
Sheikh Imtiaz Ahmed assured resolution of all just problems and proposed fortnightly meetings and awareness seminars which were accepted by the leaders of the trading community.
He said that FPCCI would continue to do best to serve the interests of business community and to make Pakistan a strong, stable and prosperous nation.
Former Vice President FPCCI Mirza Abdul Rehman and Chairman Media FPCCI were also present on the occasion.