LAHORE: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) will organise the Punjab Business Symposium here on Tuesday with prime objective of highlighting business community concerns to the government and providing it suggestions for their solution.
FPCCI Vice President and Regional Chairman Chaudhry Arfan Yousaf expressed these views in a meeting with a delegation of Sahiwal Chamber of Commerce & Industry (SCCI) here at the Federation’s offices on Monday.
He said that the government and business community should jointly come forward for betterment of the country as the cost of doing business and trade was a serious concern of the business community. He said that efforts should be made for promotion of exports, encourage foreign investment and stimulate economic activity in the country.
The chairman said that all districts would be focused separately as per their issues and concerns. The federal budget and its irritants and other economic issues would also be focused. A large number of business elites including members of executive committee, general body, trade bodies and other prominent businessmen to attend the event.
Chaudhry Arfan said that he was well aware of the current issues of business community and efforts would be made in order to resolve all issues of business community relating to tax, regulatory duty, customs, smuggling refund and rebate, starting business and high cost of doing business. High utility expenses of electricity and gas had disturbed the manufacturing sector and a detailed report of issues and concerns of each district of Punjab would be prepared.
He also welcomed the prime minister’s decision of one-time tax amnesty scheme to bring back the offshore wealth of Pakistanis deposited in foreign banks. They have invested in Middle East, Far-Eastern countries, Western Europe and offshore companies, while net inflows of investment were declining in Pakistan.
Several countries had introduced one-time amnesty scheme for acceleration of the economic growth through production and utilisation of hidden liquid assets in the main stream of the economy, he added.
He stated that inflow of Foreign Direct Investment (FDI) was directly associated with the trend of investment by local investors that gave confidence to the foreign investors. Chaudhry Arfan also proposed that the objective of this amnesty scheme should not be to provide a shelter to illegal practices but to bring the isolated liquid assets into own economy.
