Prime Minister's financial package: government agrees to include Peshawar in 'most-affected' category

Federal Minister for Finance Shaukat Tarin, has agreed in principle to including Peshawar in the category of most-affected area in the Prime Minister's financial package, for the province. The assurance was given to a delegation of Sarhad Chamber of Commerce and Industry (SCCI) led by SCCI president Riaz Arshad, which met the minister in Islamabad.
The minister assured giving final shape to the approval of the recommendations and proposals, presented by SCCI, within a period of one week. The delegation of led by SCCI president Riaz Arshad welcomed the financial package, announced by the Prime Minister for NWFP and Fata. However, they also presented some apprehensions and reservations of the traders and industrialists, in this regard.
SCCI demanded inclusion of Peshawar in category-I and said that a total of 106 bomb explosions took place in NWFP, while 48 occurred in the provincial metropolis, inflicting heavy losses on the business community of the city.
The delegation called for early issuance of the notifications and circular, relating to the incentives announced in the PM's package, fixing mark-up on refinance at 4 percent, changing the condition of 90 days in CBI to 180 days, and exempting traders up to income of Rs 0.3 million, from the income tax.
They also demanded the implementation of circular no. 29 and withdrawal of two-day load shedding in a week, as per the decision of the Economic Co-ordination Committee (ECC). They further demanded exemption of the pharmaceutical industry of sales tax on packing material, permission of company-to-company transaction of the raw material, inclusion of export of ghee in DTRE scheme, and exemption of the traders value added tax to Rs 2 million.
The delegation also presented recommendations on 25 percent increase in the release of loans by the commercial banks in the province, removal of reservations on Afghan Transit Trade (ATT) and problems relating to CNG sector, Alternative Dispute Resolution (ATR) and land revenue service. Federal Minister for Finance Shaukat Tarin assured implementation of the recommendations of the SCCI.
The SCCI delegation was comprised on Senator Ilyas Ahmad Bilour, Mohsin Aziz, Adeel Rauf, Haji Mohammad Asif, Sharafat Ali Mubarak, Vice President, Faiz Mohammad Faizi and executive members Ghulam Dastagir, Shaukat Ali Khan, Haji Mohammad Afzal, Zahidullah Shinwari, Malik Imdad Hussein and Mohammad Asad. Secretary Finance and Chairman Federal Board of Revenue (FBR) were also present on the occasion.