UBG of FPCCI seeks proposals from chambers

UBG of FPCCI seeks proposals from chambers

LAHORE (INP): The United Business Group (UBG) of Federation of Pakistan Chamber of Commerce and Industry’s Sunday sought viable proposals for coming budget 2022-23 from all chambers, affiliated trade bodies, associations and business community across the country for timely submission to the government.
The proposals must be aiming at to ensuring growth-oriented and business-friendly environment to boost the economic activities in the aftermath of coronavirus pandemic impact.
Talking to a delegation of traders led by Hamza Malik, member executive committee Lahore chamber, newly appointed Central Chairman UBG Shahzad Ali Malik said Pakistan was passing through crucial times due to coronavirus pandemic impact on economy and at this uncertain time, business community should come forward with a clear vision to come out of the quagmire of this critical crisis. In this regard, we should thrash out such viable proposals which help the government to revive the economy through upcoming budget, he added.
He said the private sector wanted to supplement the new government’s efforts, focusing economic revival of the country, adding that joint proposals would help make budget business-friendly, which would ultimately result in a robust export-led growth.
Shahzad Ali was of the opinion that duty on primary raw materials, secondary raw materials, intermediate goods, semi-finished goods and finished goods should be levied on the basis of cascading duty structure.
The Central Chairman UBG urged the new government to focus on ease of doing business in the upcoming budget, which would attract the much-needed investment to trigger economic growth in the country. The government is highly appreciative of the contribution of the traders and the business community towards strengthening the economy and promoting tax culture regime, he added.
He said “Now public money should be spent in a way so that the sufferings of the troubled people are mitigated. It is a big principle of the economy that through government expenditures, money comes in the hands of people which helps generate economic activities and job creation and helps in tackling the recession.”
Shahzad Ali Malik said the next budget should also feature a balanced tax collection approach and the government must adopt a strategy for documentation of economy. However, it should not be so cumbersome that it results in the suffering of business community.
The UBG Central Chairman said Prime Minister Shehbaz Sharif had to focus on enhancing business relations with other countries as no country in the current era could progress on its own. He also underlined the need for enhancing exports, reducing imports, and also giving incentives to the expats to lure investment in Pakistan.

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