The cost of doing business is increasing day by day, unsustainable energy prices, rising fuel cost, intermittent customs and taxation laws have left businessmen in fury, anguish and bad shape. An export order that initially seems a good one becomes a burden till the delivery is made.
Unfavourable law and order situation, growing extortions, have acted as the last nail in the coffin said Muhammad Saeed Shafiq, President Karachi Chamber of Commerce and Industry in a meeting with the delegation from Federal B. Area Industrial Association. President also shared his latest visit to Islamabad and meeting with Standing Committee of Senate on RGST when KCCI took most time in briefing Government how the imposition of RGST avert its plan of expanding tax net. KCCI got praise from Government as well as the opposition members on its in-depth presentation.
Elaborating further on RGST Talat Mahmood, Senior Vice President added that KCCI is pursuing its war to save the country from Civil unrest, the stance is very clear since beginning and KCCI has rejected RGST on every platform. On the pending issue of refunds the SVP said we have clarified that before as well in the presence of Fauzia Wahab, MNA that the amount taken for 24 hours has no justification and better not take it.
He said 'I am of the point of view to give 0.5% of tax instead of giving 1% amount in the name of refund, it would save businessmen from much hassle', Government is making laws to supplement its employees for corruption, these sloppy practices are taking us towards further downfall and should be condemned.
The delegation from Federal B Area Association of Trade and Industry visited Chamber under the leadership of the Association's Chairman, Muhammad Irfan and elaborated their perspective that the local investors are extremely discouraged and demotivated of how the situation prevails and their survival is only because of divine support.
The Association complained that from last year the utilities prices has increased with many folds, the Government should consult business community and take on board but we are not considered a stake-holder while the Government chalk policies that concern business and industrial community.
No Governance is observed at present with the worsening law and order situation, while the cost of doing business has become one of the highest in region. On RGST the delegation criticised Government; they are in awe on the latest news that FBR could implement RGST without the consultation and consent of provinces.
It was announced by KCCI at the end of meeting that Junaid Esmail Makda, Vice President and Saboor Ahmed, Chairman IPR sub-committee would deal with the cases of Environment. Saeed Shafiq suggested that the Association could add their issues in the agenda of sub-committee meetings and address them using KCCI platform. KCCI Managing Committee Members were also present in the meeting.-PR
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