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Employer Federation of Pakistan (EFP) on Thursday urged the federal government to take concrete measures for the economic development of the country. Commenting on the federal budget 2014-15 at a news conference at Karachi Press Club, EFP President K. M. Nauman hoped that military action against the terrorists would be successful in eradicating the menace of terrorism from Pakistan.
Voicing his concern over information provided by the federal finance minister that more than 60 per cent population of the country was living below the poverty line, he said that the economic condition would not improve and the people would remain below poverty line unless business was not allowed to flourish.
He praised the finance minister for announcing some relief in the form of subsidy on fertilizer and gas infrastructure development cess and reducing the sales tax on the import of edible oil seeds from 17pc to 16pc. He hoped that the law-enforcement agencies in Karachi would start a drive against anti-social elements who are involved in kidnapping for ransom and extortion.
Criticising the methodology used for increasing the minimum wage, he said that such an exercise should have been done in a legal way through the Minimum wage Board. He said that it was a matter of satisfaction that the government was trying to improve the regional trade and making efforts for increased production of electrical energy. However, ever-increasing power tariff was not providing a friendly business environment in Pakistan, he added. Giving details of the issues discussed at the ILC held in Geneva, he said that important discussion related to application of International Labour Standards and it was noted that much improvement was required in the labour inspections in Pakistan.

Copyright Business Recorder, 2014

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