Discretionary powers given to FBR Official should be withdrawn immediately as FBR officials use these powers for harassing business community. One window facilitation cell should be established for industrialization, dealing with increasing trade deficit and improving ease of doing business ranking. Double taxation and withholding tax on banking transaction are the practices which promote undocumented economy. Tax amnesty scheme should also be announced for the economic growth. Tax refunds should be made as soon as possible to improve our exports.Tax return system should be simplified. Help desk of Punjab Revenue Authority should be established at each Chamber of District. Business representative should be included as Board of Directors of all Government Institutions, PBIT, TDAP, FBR and NTC.
These were the views of Symposium Chairman & Former President FPCCI, Mian Muhammad Adrees, Mr. Ghanzanfar Bilour, President FPCCI, S.M Muneer, Former President FPCCI, Iftikhar Ali Malik, Vice President SAARC, Ch. ArfanYousaf Regional Chairman and Vice President FPCCI in a special press conference organized right after the Punjab Business Symposium” here in Lahore. The purpose of holding Business Symposium was get-together and highlight business community concerns and opinions to the government by providing relevant suggestions for their solution.
The leadership stressed for bringing efforts for trade promotion, industrialization, balancing trade, increasing exports. Talking about the issues of business community they said there should be specific zones for sugarcane, rice, maize and cotton cultivation. Sugarcane cultivation on cotton belt should be avoided. Government should understand that economy can only be strengthened by supporting industrialist. It was stated that current government is regularly ignoring business community and bringing non- business friendly policies. FBR officials are repeatedly harassing tax payers. Our economy is falling; our trade balance is declining due to high tariff and taxes. We have unfortunately lost our textile sector exports and same situation is being noted in each sector.
Appreciating CPEC initiatives, it was demanded that domestic business community and Chinese investor should be equally treated. The Presidents and Chairmen of all Trade Chambers and Trade Associations of Pakistan attended this event and provide full support of leadership of Federation of Pakistan Chamber of Commerce and Industry.
