LAHORE: The Lahore Chamber of Commerce and Industry welcomed the Prime Minister’s initiative of zero-rated sales tax regime for export sector to facilitate export-oriented sectors.
In a statement issued here, the LCCI President Sheikh Muhammad Arshad, Senior Vice President Almas Hyder and Vice President Nasir Saeed said that Prime Minister has won the hearts of business community by accepting their longstanding demand.
The LCCI office-bearers said that the step would go a long way and help promote country’s exports which are stagnant since long. They said that the Prime Minister’s announcement is an ample of government’s seriousness to put economy back on rails.
They said that it would boost the trust of not only local businessmen but would also give a very good message to the foreign investors. They also hailed the government efforts for economic stability saying that confidence of the business community to invest in diverse economic fields has been reinforced through business friendly policies of the government.
They said that zero-rated sales tax regime for exporters would certainly bring down the industrial cost of doing business and Pakistani products would be able to win their due share in the international market. They said that this initiative of the government would encourage business doing people to supplement the government endeavors aimed at economic revival of the country.
The office-bearers of the Lahore Chamber of Commerce & Industry hoped that zero-rated sales tax regime for export-oriented industry would give a jumpstart to the national exports, would give expansion to the industrial sector and would generate employment opportunities for the natives.
They said that private sector of the country is backbone of the economy and economic stability would remain a dream until and unless issues being faced by the business community are not solved.
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