PIAF delegation meets minister: ‘Govt to take business-friendly initiatives for economic growth’

LAHORE: Federal Minister for Industries and Production Rana Tanveer Hussain has expressed the hope that the government with the support of trade and industry would take business-friendly initiatives to achieve the goal of high economic growth.

He was talking to the Pakistan Industrial and Traders Associations Front (PIAF) Chairman Fahimur Rahman Saigol who met him here along with a delegation of PIAF Executive committee, including Rana Amir Rehman Mehmood and Sheikh Umar Sarfraz. The federal minister expressed the optimism that with restructuring, collective hard work and the government’s sincere efforts, they would be able to put the country on track of progress and sustained growth.

He said the government was considering business community’s all proposals at all levels and discussing in detail about their incorporation in the coming annual federal budget.

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The federal minister appreciated the suggestions of chairman and promised to solve the problems of the business community as soon as possible.

He said that he will soon visit the PIAF central office and meet with the senior leadership and executive committee members of PIAF and all the relevant issues will be discussed and resolved in consultation with the stakeholders.

The minister was highly appreciative of the contribution of the traders and the business community towards strengthening the economy and promoting a tax culture regime.

Fahimur Rahman Saigol, on this occasion, congratulated Rana Tanveer Hussain on becoming the Federal Minister for Industry and Production and said that the problems of the business community are expected to be resolved soon.

Saigol demanded the minister of a business-friendly, export-oriented and pro-poor budget to gear up trade activities, besides restoring the confidence of investors with a basket of lucrative incentives to attract foreign investments.

He said all proposals were mainly aimed at ensuring growth-oriented and business-friendly environments to boost economic activities in the aftermath of the coronavirus pandemic, prevailing political turmoil and economic upheaval grappling the country.

He said Pakistan was passing through crucial times of chaotic political conditions, adding, at this uncertain time, the business community has come forward with a clear vision to stamp out the quagmire of prevailing critical crisis.

The PIAF with the consultation of all stakeholders tailored such viable proposals which would ultimately help the government to revive the economy through the upcoming budget, he added. He said the PIAF fully supported bringing the identified millions of non-taxpayers into the tax net to lessen the burden on existing taxpayers, broaden the tax base and promote tax culture in the country.

The next budget should also feature a balanced tax collection approach and the government must adopt a strategy for documentation of the economy, he added. He also thanked the minister for his assurance of all viable budget proposals in the forthcoming budget.

Copyright Business Recorder, 2024