The Lahore Chamber of Commerce and Industry on Saturday welcomed Prime Minister Nawaz Sharif's initiative of zero-rated sales tax regime for export sector to facilitate export-oriented sectors. The LCCI office-bearers; President Sheikh Mohammad Arshad, Senior Vice President Almas Hyder and Vice President Nasir Saeed in their joint statement on said that the step would go a long way and help promote country's exports which are stagnant since long. The prime minister's announcement is an ample seriousness of the government to put economy back on rails, they said.
They said that it would boost the trust of not only local businessmen but would also give a very good message to the foreign investors. They also hailed the government efforts for economic stability, saying that confidence of the business community to invest in diverse economic fields has been reinforced through business-friendly policies of the government.
They said that zero-rated sales tax regime for exporters would certainly bring down the industrial cost of doing-business and Pakistani products would be able to win their due share in the international market. They said that this initiative of the government would encourage business doing people to supplement the government endeavours aimed at economic revival of the country.
The Lahore Chamber hoped that zero-rated sales tax regime for export-oriented industry would give a jump-start to the national exports, would give expansion to the industrial sector and would generate employment opportunities for the natives. Private sector of the country is backbone of the economy and economic stability would remain a dream until and unless issues being faced by the business community are not solved, they added.
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