President, Khyber Pakhtunkhwa Chamber of Commerce and Industry (KPCCI), Zulfiqar Ali Khan has demanded of federal and provincial governments for announcing special incentive packages for promotion of industries and trade in the militancy affected Khyber Pakhtunkhwa and FATA.
In a chat with newsmen, the President KPCCI said the business community of KP deserves special treatment for continuing businesses in an environment of intimidation by terrorists, extortionists and target killers.
"The business community of KP is not doing business for their survival but in-fact fighting war for stability of the country," remarked Zulfiqar Ali Khan.
On daily basis businessmen both industrialists and even small traders are registering complaints with KPCCI of receiving phone calls from extortionists for demand of money.
In this environment, this is very difficult to stay and continue business amid threats to life from bomb blasts and extortionists, he added.
"In order to encourage businessmen to stay here in KP and for stopping capital flight from the region, governments have to provide special incentives like tax concessions, rebate on bank loans, electricity bills etc," Zulfiqar Ali reiterated.
President KPCCI expressed grave concern over issuance of notices by Federal Board of Revenue (FBR) for freezing of bank accounts of business community of Khyber Pakhtunkhwa over delay in payment of taxes. He said the Regional Tax Office (RTO) is bound to pay rebate in 45 days and if rebates payments are delayed over a period of six months to one year, action should also be taken against officials of RTO. He demands of RTO to stop harassment of business community of KP by issuing notices of freezing their bank accounts. Zulfiqar Ali Khan also complained against commercial banks for not providing loan to businessmen of KP who, he said, have declared Khyber Pakhtunkhwa as `Red Zone'.
He said a couple of months earlier, Governor State Bank of Pakistan (SBP) had invited heads of around 40 commercial banks to Peshawar and directed them to provide lending to businessmen of KP on easy terms as normalcy is returning in the wake of ongoing military operation against terrorists. "Ironically none of the banks head obeyed instruction of Governor SBP and still we are not provided lending facility," Zulfiqar deplored.
President KPCCI said electricity and gas crisis are also hampering economic prosperity in KP. Despite of the fact that KP is producing surplus gas, federal government has imposed ban on issuance of new industrial gas connection as a result of which no new industrial units can be set up here. He suggested for introduction of business friendly policies for revival of commerce and trade in KP and FATA.
He said KP government has recently announced an Industrial Policy wherein incentives have been announced like concession in bank mark up, electricity rates and provision of free plots to those who set up new industries. He said government should also provide same facilities to existing industries which will suffer if an edge was given to the new ones. Zulfiqar said the government should realise the sacrifices made by existing industrialists and provide them protection while announcing incentives for new industrial units. He said in the new industrial policy, government has to pay rebate on electricity bills to the tune of 25 percent and concession of five percent on bank mark up.
He said government has announced incentives costing up to Rs.2 billion for new industrial units and if these incentives are given to existing industries it will cost half of the amount to Rs.1 billion. Zulfiqar Ali Khan also demanded of KP government to exempt trading community of the province from all sort of taxes for a period of five years.
In response to a question about restoration of peace in Pakistan especially KP, President KPCCI linked it with peace in Afghanistan. "Unless peace is restored in Afghanistan, people and business community in KP will suffer from terrorism related incidents," he opined. He said law and order situation has been improved a lot in KP due to ongoing military operation Zarb-e-Azb, but still extortionists are active in Afghanistan and making phone calls from there to the businessmen of Peshawar and KP.
He also stressed for increasing trade with Afghanistan and Central Asian Countries. President KPCCI also stressed upon Afghanistan to provide same trade facilities to Pakistan as is extending to India and China.
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