RAWALPINDI: The Rawalpindi Chamber of Commerce and Industry (RCCI) that the budget for the next financial year 2021-22 should be prepared in consultation with the stakeholders. The Chamber’s recommendations should be included in the budget. In a statement, Muhammad Nasir Mirza, President RCCI said that the Pakistani economy is currently facing many challenges. “We demand that electricity and gas prices be reduced to lower business costs.”
He said traders should not be harassed on the account of documentation and registration. Sales tax rate should be reduced to single digit. Point of sale registration should be extended. He demanded that interest free loans on soft terms be provided to business women especially women entrepreneurs and women belonging to cottage industry. A special Covid 19 concession package should also be announced for women, he said.
He referred to RCCI ICS2021 where a joint declaration was adopted which urged the government to take immediate steps in addressing the impact of Covid pandemic.
The tourism sector has been severely affected and a package should be announced for this sector too. Corporate tax rate should be reduced to 20%.
Focus on agro-based industries and form a special task force for food security. Cotton production has been affected. A new policy should be formulated regarding seed procurement.
Like the construction package, a concessional package should be announced for other sectors, he added. Nasir Mirza added that for easy business, the FBR should combine all taxes to make filing easier.
