LAHORE: The Pakistan Business Council (PBC) has proposed that the government should cut taxes in the upcoming budget, which will give a boost to the domestic industry.
It also called for reducing the sales tax and customs duty on machinery imports as well as abolishing the regulatory duty on tyre industry.
The business lobby group emphasised that the National Electric Power Regulatory Authority (Nepra) should hold competitive bidding for tariff determination for renewable energy projects.
Federal Minister for Industries and Production Makhdoom Khusro Bakhtiar held a virtual meeting with members of the PBC, a private business policy advocacy forum.
Adviser to Prime Minister on Commerce Abdul Razak Dawood and Special Assistant to Prime Minister on Energy Tabish Gauhar also joined the meeting.
They discussed the business opportunities and ways of enhancing industrial growth and ensuring sustainability.
The minister emphasized that the government was committed to providing all assistance to the manufacturing sector by enabling more Pakistani entrepreneurs and businessmen to explore the opportunities available within the country and across the world.
