Business community highlights issues at symposium
LAHORE: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Tuesday organized 'Punjab Business Symposium' to note business community concerns and opinion so as to provide suggestions to the government for their solution.
Soon after having extensive discussion on host of trade and industry related issues at the symposium, the business leaders S M Muneer, SAARC Chamber of Commerce and Industry’s Vice President Iftikhar Ali Malik, FPCCI President Ghanzanfar Bilour, the symposium Chairman Mian Muhammad Adrees, FPCCI Regional Chairman and Vice President Chaudhry Arfan Yousaf, addressed a joint press conference.
The business leaders told media that they had suggested the government for establishment of one-window facilitation cell for industrialization, dealing with trade deficit and improving ease of doing business ranking.
They said double taxation and withholding tax on banking transaction were the factors encouraging the undocumented economy.
To a question, S M Muneer said tax amnesty scheme should also be announced for the economic growth, besides establishing Help Desk of Punjab Revenue Authority in every chamber of commerce and industry.
Business representative should be included in the Board of Directors of all government institutions such as Punjab Board of Investment and Trade, Trade Development Authority Pakistan, Federal Board of Revenue (FBR) and National Tariff Commission.
He also called for immediate withdrawal of discretionary powers of the FBR officials.
Responding to reporters' queries, Iftikhar Ali Malik said the government and business community should come forward for country's betterment as the cost of doing business and trade was a serious concern of business community.
Efforts should also be made to promote exports, encourage foreign investment and stimulate economic activity in the country, he added.
He opined that high tariff and taxes were affecting the country's balance of trade for which drastic and corrective measures were need to do away with economic challenges.
The business leaders mentioned that their community wanted specific zones for sugarcane, rice, maze and cotton cultivation, and sugarcane cultivation on cotton belt should be avoided.
They were of the view that economy could only be strengthened through promotion of trade and industry.
They also appreciated the initiatives under China Pak Economic Corridor (CPEC), but demanded that equal treatment/facilities for domestic business community and foreign investor must be ensured.
On this occasion, FPCCI President Ghanzanfar Bilour said efforts would be made in order to resolve all issues of business community relating to tax, regulatory duty, customs, smuggling refund and rebate, starting business and high cost of doing business.
High utility expenses of electricity and gas had disturbed the manufacturing sector and a detailed report of issues and concerns of each district of Punjab would be prepared, he added.
Presidents and chairmen of all chambers of commerce and industry, and trade associations from across Pakistan attended the event and assured their full support to the leadership of FPCCI.
Iftikhar Ali Malik assured that all districts would be focused separately as per their issues and concerns. The Federal Budget/Finance Bill 2017 and its irritants and other economic issues would also be get resolved by the quarters concerned, he added.
A large number of business elites including members of executive committee, general body, trade bodies and other prominent businessmen attended the Punjab Business Symposium.