Businessmen to present proposals to PM today

Incentive package may include smooth power supply, speedy release of tax refunds

ISLAMABAD: Businessmen from across the country have pressed the government to come up with better incentives and address longstanding challenges for giving a push to the weakening exports.

All trade and business associations as well as ministries concerned held a consultative meeting here on Thursday in a bid to frame recommendations for their presentation to Prime Minister Nawaz Sharif on Friday.

The daylong interactive session, which took up for discussion critical issues being faced by different industries that pushed down their exports, was attended by all relevant ministers except for Finance Minister Ishaq Dar and Industries and Production Minister Ghulam Murtaza Jatoi.

The Trade Development Authority of Pakistan (TDAP) chairman and the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) president were also present.

Based on the business proposals, the prime minister is expected to announce an incentive package in order to give a boost to the country’s exports and meet the target, which was being missed for the past two years.

Outstanding tax refunds, high electricity and gas tariffs, gas surcharge on the industry and a complicated tax system were major concerns for the producers and exporters of goods, who blamed these challenges for the dwindling exports.

An industrialist told The Express Tribune that Finance Minister Dar, who is a key policymaker among government circles, should have turned up at the meeting as businessmen wanted to share their grievances with him.

Later speaking at a press conference, Commerce Minister Khurram Dastgir Khan called the meeting an intensive consultative session with all stakeholders and said many fruitful recommendations were firmed up by representatives of varying business sectors.

These proposals would be sent to the prime minister for a final decision on the incentives that would be offered to the business community keeping in view those incorporated in the trade policy, which was being finalised.

“The government will take all possible steps for the facilitation of business community and to give a fresh impetus to exports,” he said.

Apart from many other encouragements, according to Dastgir, the key focus would be on uninterrupted electricity supply to industries from the end of this year, removing bureaucratic hurdles and complications in the tax system and releasing tax refunds on time.

“There is also a need to promote industrial competitiveness to compete with our regional and international competitors,” he said.

FPCCI President Mian Idrees pointed out that the prime minister had taken keen interest in addressing the challenges being faced by the business community to give a push to the exports.

“There are multiple issues that could not be resolved without the intervention of the prime minister,” he said.

The businessmen would discuss their issues with the premier and also give suggestions for their solution. “All the allied ministries and stakeholders concerned have to work together to overcome these challenges,” Idrees remarked. “There is a pressing need of including export-related objectives in our policies.”

Published in The Express Tribune, September 11^th,  2015.

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