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 the government to undertake meaningful reforms covering all the sectors and to take steps to broaden the 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, FBR Chairman Nisar Muhammad 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 per cent and asked for 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 3.1 trillion for the current year.
The finance minister said on the occasion that the tradition of consulting the stakeholders before making important decisions would continue as encouraging the 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 the government is highly appreciative of the contribution of the traders and the business community towards strengthening the economy and promoting tax culture.
The FPCCI delegation included FPCCI Senior Vice President Shaikh Khalid Tawab, CEO TDAP SM Munir, UBG Chairman Iftikhar Ali Malik, UBG SG Zubair Tufail, FPCCI Vice President Zafar Bakhtawari, Gulzar Feroz, Shakil Ahmed Dhingra and Malik Sohail Hussain.
