Islamabad, July 12, 2013 (PPI-OT): Government is determined to resolve businessmen problems so that they could play more effective role in the development of country and with the stabilization of economy, all required measures would be taken to provide sufficient relief to business community.
This was said by Federal Minister for Finance Mr. Ishaq Dar while talking to Mr. Iftikhar Ali Malik Vice President SAARC Chamber of Commerce and Industry, Zafar Bakhtawari, President Islamabad Chamber of Commerce and Industry and M/s. Farooq Iftikhar President and Irfan Iqbal Sheikh Senior Vice President of Lahore Chamber of Commerce and Industry on the sidelines of a dinner hosted by Mian Shahbaz Sharif, Chief Minister, Punjab.
The Finance Minister said that strengthening the economy and resolving energy crisis are on top priority of the government and for this purpose, some hard decisions have been taken in the budget to improve tax revenue. However, on meeting the tax targets and stabilization of economy, government would come up with better relief measures for businessmen, reduce tax rates and facilitate trade and industry to flourish.
He clarified that giving FBR access to bank accounts would not create any problems for businessmen and other bank customers as only Chairman FBR has the authority to access bank accounts for assessment. Moreover, the existing assesses would not be asked any questions and added that if anybody has some complaints on this account, they can contact his office for redress of complaint.
Ishaq Dar said the economic team of the government has prepared a pragmatic strategy to cope with all the prevailing challenges and consequent upon implementation of said strategy, Pakistan will emerge as an important economic player at the regional and global level to assert its national dignity.
Mr. Iftikhar Ali Malik, Vice President, SAARC Chamber of Commerce and Industry expressed his confidence that the government will take all possible measures to bring country out of economic crises. He said it was vision of Mian Nawaz Sharif to make Pakistan economic tiger of Asia and expressed hope that he will take all possible steps to realize his vision.
Speaking at the occasion, Zafar Bakhtawari, President, Islamabad Chamber of Commerce and Industry said that government should take business leaders on board on all important economic and other matters of national importance to develop consensus policies.
He said the hike in turnover tax from 0.5 percent to 1 percent in recent budget would hurt businessmen interests and urged that it should be brought down to at least 0.75 percent to provide some relief. He further demanded that government should bring agriculture and other exempted sectors into the tax net to improve tax collection.
He said businessmen want political and economic stability as these are essential to create enabling environment for growth of trade and industry and hoped that government would take measures to establish stability in the country. He also invited the Finance Minister to visit ICCI and Finance Minister assured that whenever he got some time from his busy schedule, he would visit Islamabad Chamber of Commerce.
For more information, contact:
Islamabad Chamber of Commerce and Industry
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1,
Tel: +9251 225 0526 and 225 3145
Fax: +9251 225 2950