Chairman Businessmen Panel (BMP) and Former Provincial Minister, Mian Anjum Nisar has said the BMP is all set for the forth coming elections of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) with full wisdom which will be scheduled in December this year.
Nisar said large circle of Business community is disturbed on the Federal Budget and we hope the government may address our genuine grievances amicably however we support the Prime Minister of Pakistan on asset declaration scheme, as we feel that economy may be documented which is vital for the country progress and tax evaders should be brought under due course of law, according to a press release issued here on Wednesday.
Currently, two to three percent Pakistanis are bearing the burden of 220 million people. This is impossible," he said, adding: "No country can serve its people if tax evaders are not brought into the tax net."
He also sought concerted effort at every level getting materialized "Made in Pakistan" concept to help promote the local industry and elevate value of Pakistan rupee.
"The dwindling investment in the manufacturing sector during past one decade has emerged to be major cause of the country's existent economic woes"
Substantiating his claims, the senior member of country's business community said the share of manufacturing sector in the country's GDP dropped to 12.1% in 2018 from its peak of 14.8% in 2008, indicating a decline in industrialization and a loss of jobs.
"The cost structure of the industry remains one of the major causes that have eroded international competitiveness, discouraged investment in manufacturing and decreased exports.
Acknowledging that fiscal adjustments were necessary to put the economy back on the rails of stability, he said the government however, must not ignore the fact that long-term recovery is simply impossible without encouraging manufacturing sector - that otherwise hold all capacities to contribute at least 30% to GDP.
"Anjum Nisar regretted that the current FPCCI leadership appeared to be indifferent towards importance of negotiation needed to protect interest of chambers of commerce and business community at large and they simply once again failed to safeguard the business community in the finance bill of 2019-20"
He also set a side all the allegations referred by its opponents and termed cheap tactics and attempts to withdraw the attention of the business community from the real issues and declining performance of the Federation.
The chairman BMP further said that the government itself needs to take on board the representatives of trade and industry as they being a major stakeholder and pillar of economic structure can always be a major supporter to the cause of national progress and economic stability.
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