FPCCI discusses anomalies of finance bill 2019 with Imran Khan

KARACHI: A Federation of Pakistan Chambers of Commerce and Industry (FPCCI) delegation – led by  S.M. Muneer, leader of the business community and Former Chief Executive TDAP and Former President, FPCCI and consisting of Aqil Karim Dhedi, Engineer Daroo Khan Achakzai, President, FPCCI and Zubair F. Tufail, Convener of the FPCCI Budget Advisory Council – held a detailed meeting with the Prime Minister Imran Khan and Abdul Hafeez Shaikh, Advisor to the PM on Finance which lasted for 2 hours and discussed / briefed them about the hardships of the business community emanated from some harsh measures of the finance bill 2019 that would give serious blow to trade and industry, especially export sector in the wake of exorbitant policy rate of 12.25 percent coupled with the massive devaluation of Pak-Rupee versus dollar in the last few months withdrawal of zero rated regime from export industrial sectors etc.

The FPCCI delegation particularly emphasised and discussed ten major demands out of which eight proposals have been accepted by the Prime Minister,  the major one such as doing away with raid on any premises, reduction in tax rates for service sector, routing taxation and business related policy through Federal Government/Cabinet instead of FBR, as directed by the Supreme Court, lack of personal interaction and minimal possibility of abuse of discretionary powers by the tax officials, conduction of audit once in a three years  etc.

On FPCCI demand of restoration of SRO 1125/2011 allowing five export oriented export sectors at zero rate, the PM assured to consider it sympathetically. Moreover the issues of retailers, wholesalers and real estates were also discussed in details.