ISLAMABAD: Prime Minister Shahid Khaqan Abbasi said on Tuesday that the government was cognisant of the issues faced by industrialists and was working diligently on tax reforms.
“We understand that there is a delicate balance between tax collection and industrial growth”, he stated.
The premier expressed these views during a meeting with a delegation of prominent industrialists, led by Federation of Pakistan Chambers of Commerce (FPCCI) Chairman Mian Anjum Nisar.
During the meeting, various proposals regarding the enhancement of exports, incentives for industrial zones, tax reforms, infrastructure development and measures for reducing trade deficit were put forward by the participants.
Abbasi reiterated that industrial consumers would be provided with uninterrupted gas and power supply. He emphasised that the government was always open to suggestions from the business community.
He added that infrastructure development for special economic zones was being undertaken on priority basis.
The business community appreciated and acknowledged the special focus of the government towards sustained power and gas supply for the industrial sector. Moreover, representatives also lauded the government for restoring law and order in the country that has resulted in improved investor confidence.
Proposals regarding the financing mechanism for encouragement of local Small and Medium Enterprises (SMEs), production of traditional items, facilitation in licensing processes, rationalisation in tax regime and establishment of a think tank for annual budget were also discussed during the meeting.
The industry representatives highlighted the benefits of reforms in FBR and long term industrial policy that could result in increased economic growth. The representatives of Women Chamber of Commerce proposed special incentives for women entrepreneurs and representation in foreign trade delegations.
Published in The Express Tribune, December 7th, 2017.