In the right direction: Incentives demanded for businessmen

KPCCI president says government should exempt traders from all taxes for five years

PESHAWAR: The federal and provincial governments should announce special incentive packages to promote commerce and trade in areas affected by militancy in Khyber-Pakhtunkhwa and the Federally Administered Tribal Areas.

This was stated in a handout issued on Sunday. According to the document, Khyber-Pakhtunkhwa Chamber of Commerce and Industry President Zulfiqar Ali Khan shared these views while speaking to journalists on the same day.

“Businessmen in K-P deserve special treatment for operating in a difficult and dangerous environment,” he said.

The KPCCI president added several industrialists and small traders had registered complaints about receiving threatening phone calls from extortionists.

“It is very difficult to work amid such threats,” Zulfiqar Ali said.

Taxes and loans

Zulfiqar Ali also expressed his concern over notices issued by the Federal Board of Revenue for freezing bank accounts of businessmen over delays in the payment of taxes.

“The regional tax office is bound to pay rebate in 45 days,” he said. “If rebates are not paid within six months or a year, action should also be taken against the officials of Regional Tax Office.”

Zulfiqar Ali criticised the commercial banks for not providing loans to businessmen.

“A couple of months ago, the governor of State Bank had invited heads of around 40 commercial banks to Peshawar,” he said. “He directed them to provide loans to businessmen on easy terms. Ironically, none of the banks obeyed the instructions.”

Amid demands

The KPCCI president said the electricity and gas crisis was also hampering economic prosperity in the province.

“The federal government has imposed ban on issuing new industrial gas connections even though K-P is producing a surplus quantity of gas,” he added.

According to Zulfiqar Ali, the provincial government should exempt traders from all taxes for five years.

About restoration of peace in Pakistan, the KPCCI president said stability is linked with peace in Afghanistan.

“Unless peace is restored in Afghanistan, businessmen in K-P will continue to bear the brunt of militancy and unrest,” he added.

Published in The Express Tribune, May 9^th, 2016.