LAHORE: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) rejected the law permitting arrest of businessmen and constituted an eight-member committee led by its President Atif Ikram Sheikh to engage in negotiations with relevant authorities in this regard.
Atif Ikram Sheikh, along with Patron-in-Chief of United Business Group (UBG) S.M. Tanveer, FPCCI Vice Presidents Zaki Aijaz and Tariq Jadoon, and other prominent business leaders, disclosed this to media at press conference here at FPCCI Regional Office.
They announced to shut down all industrial operations in protest, besides giving a seven-day deadline to address these concerns.
Referring to the introduction of Section 37AA, they said, if businessmen are arrested, they could not continue to operate their factories.
While reaffirming their commitment to cooperate with the government, they emphasized that the business community has consistently supported national revenue objectives. However, they made it clear that harassment of businessmen would not be tolerated.
They reiterated their longstanding demand to reduce electricity tariffs to 9 cents per unit, noting that despite a drop in the Consumer Price Index (CPI), interest rates remain high. They also objected the imposition of 18 percent sales tax on solar energy solutions.
Additionally, they called for the immediate reinstatement of the Final Tax Regime (FTR) and the full restoration of the Export Facilitation Scheme (EFS) in its original form.
President Atif Ikram Sheikh stated, “We are fighting for the rights of the business community. Until all policy anomalies are resolved, we stand in full solidarity with all trade bodies.” He added that a meeting with the Prime Minister would be arranged soon to get resolved these critical issues.
They said that to facilitate formal dialogue, an eight-member committee has been constituted under the leadership of FPCCI President Atif Ikram Sheikh. The committee includes Vice President FPCCI Zaki Aijaz, former FPCCI President Zubair Tufail, Chairman of the FPCCI Policy Advisory Board Mian Zahid Hussain, President of Sialkot Chamber Ikram-ul-Haq, former President of Faisalabad Chamber Dr. Khurram Tariq, FPCCI Executive Committee Member Momin Ali Malik and Fahad Ishaq representing Khyber Pakhtunkhwa.
