Chambers, trade associations unite to raise voice for resolution of issues

KARACHI: Presidents from almost all chambers of commerce and industry and trade associations of the country gathered here at Karachi Chamber of Commerce and Industry (KCCI) on Wednesday and after deliberations on many issues and government policies relating to trade and industry reached consensus to collectively raise their voice for the relief.

They argued, it was very imperative for the business community of the country to unite and raise collective and forceful voice for resolution of their grievances.

The convention was moderated by President, Karachi Chamber of Commerce and Industry, Muffasir Atta Malik, former president KCCI Haroon Farooki, President Gujranwala Chamber of Commerce and Industry, Mian Amir Aziz and President, Azad Jammu and Kashmir, Chaudhry Ghulam Murtaza.

The participating business leaders called for withdrawal of various amendments through the finance bills since 2013 regarding powers of FBR officials.

In his welcome remarks, Vice Chairman, Businessmen Group in KCCI and former president KCCI Haroon Farooki maintained that ninety percent of audit of companies by FBR related to withholding tax , not to income tax. Every individual trader was assigned the task of withholding tax collecting agent, which added to the problems of the business community.

He urged that these audits be conducted under well-defined audit parameters which should be promulgated in consultation with all stakeholders and must have cover of a law.

The business leaders had also a marathon session on the same agenda in Gwadar on Tuesday.