KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) leadership, after going through the federal budget in detail, has expressed certain reservations and called for more incentives and concessions to increase trade and industrial activities in the country.
FPCCI President Mian Muhammad Adrees and FPCCI Senior Vice President Abdul Rahim Jano along with other officials of the apex trade body; in their post-budget press conference here at the Federation House here on Saturday observed that the federal budget 2015-16 should have announced significant support/ facilitation for small and medium enterprises (SMEs) and women empowerment.
FPCCI President said the large scale manufacturing (LSM) sector has performed very low at 2.3 percent against the target of 7 percent set for the fiscal year 2014-15.
He called for more support to LSM along with SMEs which are recognised in the world as the backbone of the economy.
He said the construction and housing industry would get momentum after the concessions and incentives announced in the budget.
Mian Muhammad Adrees informed the media that FPCCI had presented 69 proposals regarding tax. Of these, 12 have been accepted and 10 have been partially accepted. The remaining 47 recommendations were pertaining to either tax base broadening or ease of doing business in the country.
For these proposals, he added, the government has constituted two committees. The President FPCCI will be the
Chairman of Broadening of Tax Base Committee; with the Chairman Federal Board of Revenue (FBR) and the Secretary Finance as it members. The committee also includes other concerned people.
Senior Vice President Abdul Rahim Janoo expressed satisfaction that Federal Finance Minister Senator Muhammad Ishaq Dar has affirmed the payment of refunds especially to exporters.
This will resolve the working capital problem of the industry and exporters.
He said it was a demand by the exporters, which was firmly supported by FPCCI that exports to Afghanistan should be allowed in Pakistani rupees which has been accepted. Afghanistan is included as the third leading export destination of Pakistan. It may become an origination of the internationalisation of Pakistani currency.
He welcomed the positive steps introduced to boost the real estate, construction industry, export of rice, halal meat and fish.
FPCCI leadership also welcomed the special packages announced for the people of Khyber Pakhtunkhwa.
FPCCI leaders noted very positively that law and order situation has improved in the country.
