Abdul Shakoor Khatri, Chairman Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Standing Committee on Industrial Promotion has called for reduction in the rate of custom duty, sales tax and central excise duty, and providing protection especially to the chemical, pharmaceutical and textile fibre sector in the fiscal budget 2004-5.
Congratulating Liaquat Ali Jatoi, Federal Minister for Industry and Production, on achieving industrial growth rate of 214.7 percent, the Standing Committee Chairman said now the government should concentrate on strengthening institutions, improving the competitiveness of industries, building a robust financial system in an environment of global financial restructuring, further strengthening of the tax administration, promotion of transparency in economic policy making.
In a message to the federal minister, Khatri said the achievement of this high growth rate would bring macroeconomic stability, increased general employment opportunities and reduction in the growing poverty trend, more foreign investment and especially improve the image of Pakistan through out the world.
He said that this image would encourage the foreign investors to undertake mega projects in the country, which would further strengthen our economic foundations and help the private sector, enter into big economic markets through exports.
Khatri noted that the improvement in the bilateral relations with India and the introduction of dynamic economic policies have made Pakistan a leading emerging country in the region.
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