Karachi, June 19, 2016 (PPI-OT): The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Sunday said government’s economic direction is good which will result in rapid progress. Tax net should be widened and investment boosted to provide jobs to 1.5 million youth entering job market every year, said Abdul Rauf Alam, President FPCCI.
He said that tax-to-GDP ratio is highly dissatisfactory and that government has tried to broaden tax net in the budget resulting in reservations by certain quarters which are being tackled. President FPCCI Abdul Rauf Alam said this in a joint statement with Secretary General UBG Zubair Tufail after meeting Prime Minister’s Special Assistant on Revenue Haroon Akhtar Khan.
They said that Haroon Akhtar has patience and a sympathetic ear which has infused confidence in the business community. Abdul Rauf Alam and Zubair Tufail said that economic direction of the government is good while tax policy is to result in industrialisation in the country which will contain unemployment. They called upon investors to get benefit of the tax breaks announced in the budget to invest in the industrial sector.
The business leaders said that apart from widening tax net and increasing exports, growth rate should be above seven percent while annual investment should surpass 20 billion dollar to create jobs for the youth and ensure sustainable growth. Presently only a million people file returns which should be increased to four million to help country stand on the solid foundations while regional trade should be promoted, they demanded.
For more information, contact:
M. A. Lodhi
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Tel: +92-21-35873691, 93-94