Business community demands tax concession for one year

The business community on Friday observed that due to the recent long march and sit-in at Blue Area of the federal capital, the business community has suffered a daily loss of about Rs 7 billion along with a long term negative impact on the business of the capital.
In a bid to recover the losses incurred due to the recent long march to the businessmen of the federal capital, the business community demanded the government to provide tax concession to all commercial outlets situated along the most affected area for one year.
“Due to the sit in of Dr Tahirul Qadri and his supporters, the routine life of Islamabad remained disturbed for about a week due to which business community suffered billions of rupees losses,” said the Media coordinator of Federation of Pakistan Chamber of Commerce and Industry (FPCCI) Sohail Malik.
He claimed that a daily transaction of about Rs 7 billion in the Blue Area was badly affected due to the long march and it will also have long term impact on the business of the capital.
With the end of long march, the normal life can not revive immediately and it will take a week or more to resume the hustle and bustle in the commercial markets of the capital, he added.
He said the participants of the long march were allowed to gather at a place which is the hub of business activities of the city that created nuisance for the businessmen.
He said there are a number of money changers, hotels, restaurants, multinational business offices, branded outlets and stock exchange outlets in the area which remained shut for 4-5 days.
Ever since the TMQ’s sit-in started, almost all the 50 plazas of the Blue Area remained closed.
Islamabad Chamber of Commerce & Industry (ICCI) President Zafar Bakhtawari said although the markets in the capital other than Blue Area remained partially functional, the residents of the capital did not come out to visit the markets due to the uncertain situation.
The business community had raised their concerns ahead of the long march and raised their voice to stop this march as it would disturb the normal life of the capital.
“Business community had nothing to do with the ongoing political situation, but still this community suffered the most,” he added.
Meanwhile, in a statement the ICCI welcomed Dr Tahirul Qadri for ending the Long March after reaching an agreement with the government negotiating team which, the statement said, would help improve the image of democracy in Pakistan as well as maintaining political stability in the country.
Bakhtawari also appreciated the peaceful attitude of participants of the march, who he said exhibited a new example of patience and commitment in the history of our country.
He said the business community of Islamabad had many reservations about the long march but it is appreciable that not a single incident of damage to public and private property was reported in the last four days.
Bakhtawari also hailed the government delegation which was led by Chaudhry Shujat Hussain for having a positive negotiation with Qadri, ending the sit-in in an amiable atmosphere and reconciliatory spirit. He was of the view that political stability is a pre-requisite for economic growth and development of the country in the prevailing global scenario.
The ICCI chief urged leaders of all political parties to help strengthen the democratic system in the national interest by burying their political differences and said political stability was a key factor worldwide for economic development and for restoring confidence of foreign and local investors. He also stressed the government to proactively deal with the ongoing crises to avert industrial closures and resultant economic downturn.