Businesspeople meet PM, vow support to tax strategy

ISLAMABAD: Prime Minister Imran Khan on Friday said that reforms aimed at improving the tax system are under way and consultation in this regard with all stakeholders including chambers of commerce of the country will be very beneficial for the process.

The prime minister made these remarks during a meeting with all presidents of major Chambers of Commerce of Pakistan.

The Prime Minister’s Office said that all the chambers of commerce have expressed full confidence in the government’s “business-friendly” policies and measures taken for “ease of doing business”. They agreed on formulation of a strategy to increase tax revenue based on a consultation process between government and business community.

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The meeting is part of a series initiated by the Ministry of Commerce to exchange ideas and raise awareness on government policies between government and business community.

Stressing the importance of industrial development to strengthen country’s economic base, the prime minister said the government is facilitating industries to increase exports, which would not only reduce the trade deficit, but would also increase foreign exchange reserves in the country and generate employment opportunities.

The prime minister directed the federal ministers to hold meetings with stakeholders on a regular basis. The prime minister also said that a strategy for the development of the tourism industry, a comprehensive agricultural plan for the development of agriculture sector and incentives are being provided to industries.

The present government, after providing facilities to industrialists and business community, is now focusing on efforts to solve problems through consultation.

The participants praised the prime minister and his economic team for initiating successful economic policies in the country despite the Covid-19 outbreak.

They also congratulated the prime minister on the increase in tax revenue, exports and remittances.

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The participants also valued the initiative of the present government to listen to the suggestions of the business community, directly, “for the first time in history of the country”.

Further, the participants in the meeting also said that the business community will collaborate with the government to reform the tax system.

The meeting was attended by the president of Federation of Pakistan Chambers of Commerce and Industry as well as presidents and vice presidents of Chambers of Commerce of Karachi, Lahore, Peshawar/KPK, Quetta, Gujranwala, Sialkot, Faisalabad, Gujarat, Multan, Sargodha, Gwadar, Islamabad, and Rawalpindi.

Federal Ministers Hamad Azhar, Makhdoom Khusro Bakhtiar, Advisor on Commerce and Investment Abdul Razzak Dawood, Special Assistant Dr Shahbaz Gill, Governor State Bank of Pakistan Dr Reza Baqir, and concerned officials also attended the meeting.

Finance Minister Shaukat Tarin participated via a video link.

APP adds: Prime Minister Imran Khan in his remarks mentioned the facilities provided by the government to promote economic activities of industrialists and the business community.

Through consultation, he said, the government was now focusing on resolving the issues faced by the businessmen.

He emphasized on the importance of industrial development for the national economy and said the government was providing facilities to industries to boost exports.

The representatives of business community also commended the SBP for providing facilities to the industry, incentives for medium and small-scale industries including machinery loans and for inviting the business community to benefit from Uzbekistan’s commercial potential.

Copyright Business Recorder, 2021