Lahore, May 23, 2014 (PPI-OT): President Pak China Joint Chamber of Commerce and Industry Shah Faisal Afridi urged the government to withdraw harsh taxation proposed by the bureaucracy in the Federal Fiscal Budget 2014-15. Expressing his concern over the 1% Special Excise Duty sales Tax to be imposed by Federal Board of Revenue on the imports and manufacturing of goods, President PCJCCI observed that the duty if levied would badly hamper the commercial and industrial sector of Pakistan.
However, he appreciated Mr. Isahaq Dar, Federal Finance Minister to hold a meeting with business community leaders the other day to review Chambers of Commerce and Industry‘s concern over negative measures to be introduced in the coming budget. He hoped that the Finance Minister would ensure to withdraw special excise duty sales tax from the budget before announcement.
He said that instead of providing a sustained and favorable business environment for business and trade such initiatives are being taken by tax authorities that are restraining the existing growth rate of trade and business.
He said that Pakistan is a country whose majority of young population is unemployed, no doubt that government is doing great efforts to cope with this issue. But, it should be believed that government alone can do nothing in this regard unless the private sector is empowered and facilitated enough to create more space for employments, he asserted.
Therefore, he proposed that the upcoming budget should comprise embracing policies, incentives and provisions that may help boost the current growth rate of business, trade and manufacturing domain.
The current government has been known in the past for opening up ways and expanding the avenues for a healthy trade environment, he said adding that the business community had the same expectation from them in their current tenure. So we are looking forward to an efficient budget in which all measures would be taken to create a conducive environment for trade and industry, said the president PCJCCI.
For more information, contact:
Pakistan China Joint Chamber of Commerce and Industry (PCJCCI)
Mega Tower, 309 – 6th Floor,
Main Boulevard, Gulberg II,
Lahore, Punjab – Pakistan.
Tel: +92 42 35777460- 02, 37032203 – 35874353
Fax: +92 42 35777524