Lahore: The Federation of Pakistan Chambers of Commerce & Industry (FPCCI) is seeking viable budget proposals from all chambers, a news source reported. FPCCI wants all chambers to submit the proposals timely to the federal government in order to ensure growth-oriented and business-friendly environment for boosting economic activities.
The FPCCI will consolidate its proposals in light of the received recommendations. The authority will present the consolidated proposals to the Prime Minister, ministries of finance & commerce, Federal Board of Revenue (FBR), and other relevant ministries. These authorities will then incorporate the received proposals in the upcoming federal budget.
The decision was taken during a meeting of the FPCCI President, Engr Daroo Khan Achakzai with SAARC CCI Senior Vice President Iftikhar Ali Malik. Achakzai said that the private sector aims to help the government in its efforts to revive the country’s economy. He added the joint proposals will help formulate a business-friendly budget; leading to export-led growth.
Achakzai revealed that FPCCI has approached the federal government to finish penalties for small traders. These include traders who file income tax returns but not sales tax returns. He said they have asked the government to offer them the option to de-register from the sales tax regime or resume filing tax returns without penalties.
Malik requested the government to focus on ease of doing of business when formulating the budget. He said this will attract more investment, which will boost economic growth.
