Karachi, May 26, 2014 (PPI-OT): Zakaria Usman, President FPCCI said that it is a great source of encouragement for the business community that the Finance Minister has appreciated the efforts of FPCCI and its shadow budget. He thanked the government to accept 30% of the shadow budget proposals and to establish a commission to review the remaining proposals of FPCCI.
The President FPCCI said that most of our proposals are pre-requisite for survival and expansion of industry. The existing infrastructure will be transformed into an efficient network that can bring radical changes in the economy. He further said that the SMEs are the important factor for the industrialization and it is a great manufacturing block of any country.
The Finance Minister has assured that the manufacturing sector of the country will be facilitated specially the SMEs and the local industry will protected and strengthened through various tax incentives.
Zakaria Usman appreciated that the decision of Finance Minister for making a Commission over to review FPCCI’s Shadow budget proposals. He said that this would have more effective if it would have been made before the announcement of the budget as we have advocated for equitable taxation while emphasizing on expansion of tax net rather than putting more burden on the existing taxpayers.
He further said that FPCCI is working on the same directions which have been following by the government for the development of national economy and to achieve the targets.
For more information, contact:
M. A. Lodhi
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Tel: 0092-21-35873691, 93-94
Fax: +9221 3587 4332