Faisalabad Chamber of Commerce and Industry (FCCI) President Engineer Suhail Bin Rashid has said that the fifth All Pakistan Chambers’ President Conference, which was held in Gujranwala, will be a major step towards the promotion of unity among the business community of Pakistan.
He said that arranging five successive conferences in a year is reflective of the unanimity among the business community on important economic issues confronted by Pakistan.
“It would not only help the government in policy making but also reduce genuine reservations of the business community with enhanced interaction.”
He further said that representatives of 16 leading chambers participated in the conference. He showed his support for the view that the ministry and Trade Development Authority of Pakistan are being restructured to achieve the economic targets set by the government.
Rashid requested the Federal Board of Revenue to take necessary measures to remove budget anomalies, adding that the tax collection machinery should also take action against lethargic officers. The conference also addressed the issue of 50% increase in property tax.
It was also decided that the sales tax registration of small traders should be linked to an annual turnover of Rs20 million. He was also critical of the discrimination between commercial and industrial importers and said that a uniform tax rate should be applied to both categories.
Published in The Express Tribune, September 10th, 2014.
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