KARACHI – Taxation through ordinances is an unjust practice of the government which badly affects economic activities. Keeping in view, the current economic situation of the country which suffers from load shedding and load management of gas and electricity, the government must consult the business community.
This was stated by Federation of Pakistan Chambers of Commerce and Industry President Senator Haji Ghulam Ali in a meeting with FPCCI office bearers. The meeting was attended by the Vice Presidents from all the four provinces including Secretary General Masood Alam Rizvi Muhammad Akbar Khan, Khalid Tawab, Dawood Usman jhakora, Mohammad Usman Sheikh, Tariq Shafi, Aamir Ata Bajwa, Ghulam Farooq and Haji Fazal Elahi.
He suggested that government should not ignore the business community when determining tax policy given that the community is the backbone of the country and contributes significantly to the exchequer. He suggested that government, instead of imposing the new taxes, should expand the tax collection network.
Addressing the meeting, he asked President Asif Ali Zardari and Prime Minister Syed Yousuf Raza Gilani to take into confidence the business community on industrial and economic policies. The FPCCI is trying to solve the problems of business community and this practice would remain intact.
He also added that the FBR chairman and his team had negotiated three days in FPCCI Head Office with the FPCCI team under the leadership of business community leader Tariq Sayeed to resolve the problems and grievances of business community. He also disclosed that FPCCI team will meet with Finance Minister Dr Abdul Hafeez Sheikh and FBR Chairman Sohail Altaf to seek implementation of the decisions taken in negotiations.
Earlier, addressing the first formal meeting of FPCCI standing committee on SMEs Senator Haji Ghulam Ali said that SMEs sector is playing its pivotal role in development of the country and its importance cannot be ignored any way. Government must allocate funds to NBFIs and leasing companies on the patron of commercial banks and DFI for the development of SMEs sector.
He said that worldwide investment in SME sector is growing but unfortunately, according to the report of State Bank of Pakistan (SBP), it has fallen in Pakistan trailing at Rs 374 billion compared to Rs 437 billion, last year. He assured the committee that he would try to allocate funds by SBP and government agencies for leasing and modaraba companies for the development of SME sector.
