|Monday, 28 May 2012 18:09|
Peshawar : Federation of Pakistan Chamber of Commerce and Industry (FPCCI) has demanded of the government to extend Prime Minister’s incentive package, as a relief for militancy hit business community of Khyber Pakhtunkwa, for a period of another three years.
We want extension of the said package for another three years and its benefit should also be provided to businessmen of FATA and PATA, said Senator Haji Ghulam Ali, former President FPCCI while presenting budget proposals by FPCCI during a press conference here on Sunday. Vice President FPCCI, Zubair Ali and Dilawar Khan, Regional Director Taxation FPCCI were also present on the occasion.
Keeping into consideration relentless demand of the business community which has been badly affected for gigantic losses sustained due to continued war and terror environment and floods, the FPCCI recommends extension of the aforementioned package for another three years. The Prime Minister had announced special incentive package regarding reduced mark up rate of 7.5% per annum in respect of all banking facilities and 50% waiver on sales tax for a period of three years. Period of facility in respect of mark up on banking facility has since been expired while that of sales tax to expire by June, 2012, Ghulam Ali added. In the budget proposals, Ghulam Ali also stressed upon the government to resolve energy crisis which has badly affected industrial growth and if the problem not addressed forthwith, its repercussion would be very serious.
Economic development of the country cannot be achieved unless the pitfalls of energy sector are removed properly and resources are allocated towards confronting theft and improving production of cheap sources of energy, he added. He said government should hold a conference of investors and listen to their concerns for not investing in this sector which is also much profitable. The government, he added, should provide incentives to investors for resolving energy shortfall. He also deplored that after passage of 18TH amendment, energy has become provincial subject, but the provinces, especially KP, have not nothing significant in this sector. KP has vast resources for generation hydel power, but the provincial government is showing no interest in this regard, he added.
Senator Haji Ghulam Ali said law and order situation has badly damaged industrial growth in KP, FATA and PATA. Presently in FATA only three industries are functioning while remaining all are closed down. He said if proper consideration was not given to this problem, the situation will go out of the hands of government in shape of deteriorating law and order , unemployment and price hike.
He also expressed the fear that FBR will fail to achieve its target of revenue collection and the export figure will also show decrease. In response to a question about trade with India, Haji Ghulam Ali supported the decision of government and said in present age of globalism we cannot keep ourself confine. In the SARRC countries the share of Pakistan in trade is only two percent while Chine is around 13 percent.
Speaking on the occasion, Regional Chairman Taxation FPCCI, Dilawar Khan demanded of the government to withdraw newly imposed excise duty of Rs. 10 per KG on tabbaco. He said the Tobacco Board should concentrate on improving the quality of tobacco as the multi national companies are earning billion of rupees only through blending of tobacco purchased from Pakistan. Vice President FPCCI, Zubair Ali also spoke on the occasion and apprised newsmen about the role of FPCCI in improving trade and commerce activities in the country.
Courtesy: Pakistan Observer