Sindh seeks ABC’s views on improving business conditions

Council demands simplified tax structure, better infrastructure

KARACHI: Sindh Finance Minister Syed Murad Ali Shah has asked the American Business Council (ABC) to share its recommendations for easing hardships of existing taxpayers and assured the council that its input will be used while formulating the provincial budget for 2016-17.

Shah sought the proposals at a quarterly CEO roundtable, where he along with Sindh Revenue Board Chairman Tashfeen Khalid Niaz was invited by the ABC to discuss the challenges and opportunities for member-companies of the council, says a press release.

The minister told representatives of the ABC - the largest single-country investor group in Pakistan - that the Sindh government was taking concrete steps to frame business-friendly policies, improve the law and order situation and undertake infrastructure development projects.

He shared details of various infrastructure, energy, waste management and transport projects that were planned for the city.

Responding to concerns of ABC members about the increasing cost of doing business because of various levies and taxes, Shah sought their views on how to improve the business environment in the province.

“The provincial government needs to formulate long-term, strong, efficient and business-friendly policies and share the roadmap of its strategy to simplify the tax structure and improve Karachi’s infrastructure,” ABC President Nadeem Elahi said. “This will encourage the business community to expand and invest further.”

While welcoming the taxpayer feedback sought by the Sindh government to simplify the tax structure, he stressed that tax authorities should facilitate the taxpayers, rather than creating hardships in the way of compliance.

ABC members were of the view that though there had been some improvement in the city’s security environment, further progress was needed to change the overall investor perception.

They urged the Sindh government to give priority to development and infrastructure projects in Karachi as concrete progress on this front would lead to a marked improvement in the overall business environment.

The ABC has 68 members and most of them represent the Fortune 500 companies.

Published in The Express Tribune, November 27^th,  2015.

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