Secretary General Businessmen Panel (BMP) and former president FPCCI, Senator Ghulam Ali has said that withdrawal of the zero-rated regime will badly hit Pakistani exports and especially small and medium enterprises (SMEs), widening trade deficit at the cost of ballooning current account gap.
"How we accept the government's decision in which buyers need to pay an additional 3 percent tax for selling goods to non-filers, besides showing CNIC numbers of purchasers," he asked. BMP official said that manufacturers, importers, distributors and wholesalers need to write CNIC number of the purchaser on the bill while they would collect the amount exceeding Rs 50,000 via cheque after Finance Bill 2019 went into effect.
He said that no businesses would flourish with these measures. He said on one hand, traders, chambers and associations are protesting against the finance bill that is not business-friendly and on the other, FPCCI and its office bearers continue to keep mum sitting idle with zero plan of action as how to overcome this situation being the apex trade body of the country.
"Today FPCCI is equally responsible of this resentment among the business community because the FPCCI failed to plead the case of the business community with the government prior to the budget," he alleged. Ghulam Ali further said that FPCCI officials remain involved in an intense power struggle damaging the institution for the last two to three years due to which, government is also not ready to give them any importance although business community are on the roads in all major cities of the country.
He also criticised that UBG group took over FPCCI promising change but, unfortunately, it has pushed the apex trade body to new low depriving it of all its effectiveness and credibility in the eyes of the business community and the government. BMP official urged the Directorate General of Trade Organisation (DGTO) to allow voting right in FPCCI, Lahore and Islamabad offices as well, to facilitate the voters in the upcoming elections in December 2019. He suggested that in this regard, the office of FPCCI secretary general may be notified accordingly by the regulator.
He said that until now, FPCCI election had been conducted at its head office in Karachi and it was an hectic exercise to make all arrangements for EC and GB members, including supporters to cast their vote in favour of their respective groups for the next term. He said that every year, the ruling group UBG nominates their persons for the office of Election Commission. However, this year Businessmen Panel was assured in the executive committee meeting that Election Commission members would be neutral and this year two of its members would be nominated by the opposition group to ensure neutrality.
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