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ISLAMABAD: “The incoming coalition government would focus on promoting ease of doing business to facilitate the better growth of business and investment activities in the country.”

This was stated by Qaiser Ahmed Sheikh, a newly-elected Member National Assembly (MNA) of Pakistan Muslim League (PML-N), who has also chaired the Nation Assembly Standing Committee on Finance and Revenue, here on Friday while talking to the business community during his visit to the Islamabad Chamber of Commerce and Industry (ICCI).

Sheikh said that the new government would make business and economic policies in consultation with the business community to promote a conducive business environment and support them in business promotion.

He said that the new government would try to bring further reforms in the Federal Board of Revenue (FBR) to broaden the tax net and improve tax culture.

He said that addressing the key issues of the business community would be a key focus of the new government to enhance its role in the economic development of the country.

He assured that he would cooperate with the business community in addressing their concerns and facilitating them in business development.

Speaking on the occasion, Ahsan Zafar Bakhtawari, President ICCI said that Pakistan needs to promote trade and exports to revive its economy and stressed that the new government should extend maximum facilitation to the private sectors in realising the actual export potential of the country.

He said that the loss-making commercial state-owned entities are a huge burden on the national exchequer and stressed that the new government should expedite their privatisation to reduce their losses and improve their performance. He said that Pakistan has huge potential to promote regional trade and the incoming government should work for regional trade promotion to achieve beneficial results for its economy.

He assured that the business community would fully cooperate with the new government in promoting the business and economic interests of the country.

Faad Waheed, Senior Vice President ICCI said that the new government should focus on promoting industrialisation to create new jobs and improve exports. For this purpose, more industrial zones should be established across the country that would attract investment to the country.

Azharul Islam Zafar, Vice President ICCI said that the new government should withdraw tax on immovable property under Section 7E as it has badly affected the business activities in the real estate sector, which is harmful to the economy.

Zafar Bakhtawari, former president ICCI and secretary general United Business Group (UBG) Pakistan said that the new government should focus on establishing direct air links of Pakistan with major export markets to improve its exports. He said that PIA should be privatised.

Copyright Business Recorder, 2024

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