ISLAMABAD: Business community here on Saturday called upon the government for taking distinctive measures to broaden tax base for enhance revenue collection in the country.
Addressing the "All Chambers President's Post Budget Conference" which was organized by Islamabad Chamber of Commerce and Industry (ICCI), they urged the government for reducing the tax rates.
About 20 presidents of chamber of Commerce and Industries across Pakistan including Karachi, Lahore, Sialkot, Fasilabad, Khyber Pakhtunkhwa and Quetta participated in the conference.
They asked for reducing the tax rates which will help in broadening the tax base and would enhance revenue collection in the country.
Speaking on the occasion, President ICCI, Shaban Khalid said that the aim of the conference was to provide an opportunity for the business leaders and professionals to discuss the key features of budget 2014-15.
He expressed the hope that event would come up with proposals that would help and facilitate the government in rationale and effective implementation of Finance Bill 2014-15.
He said the exercise would help businessmen from across the country to develop consensus and send a unanimous message to the government for any further improvements in the budget.
President ICCI said that budget is the main instrument through which governments collect resources from the economy and allocate the same to various sectors to achieve the optimum results adding that it also gives direction to the business community towards a more progressive environment of doing business.
Speaking on the occasion, former president ICCI appreciated the government's initiatives for providing special incentives for food packaging industry of FATA and Northern Areas.
He urged the government for providing the matching facilities for the industry of other parts of the country for the development of agricultural products value addition.
The President Sialkot Chamber of Commerce and Industry said that first time government has taken the suggestion from the business community during its budget making process.
He said that it was good omen to take business community on board and urged the government to incorporate their proposals in federal budget for the development of trade and industrial sector of the country.
The President Karachi Chamber of Commerce and Industry called for providing special incentives for local industry to stop flight of capital from the country.
Addressing the conference, head of Bahawalpur Chamber of Commerce and Industry asked for facilitation then taxation and urged the government to facilitate the industry for setting up their own small power plants to overcome the energy crisis.
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