Multan Chambers of Commerce and Industry (MCCI), President Shahid Naseem Khokhar has termed the energy crisis, terrorism, imposition of reformed GST and double-digit mark up as major threats to the country's economy. He said that the floods have damaged the economy, and suggested that with short-term policies it is dire need of time to engineer long term policies.
He emphasised the need of building dams and activating the installed IPPs, which are closed, besides generating electricity from alternative sources of energy like coal, wind and solar, which would provide cheaper electricity to boost industrial production.
He suggested that public opinion must be designed for 'reformed GST' to exploit its real benefits as western countries are doing. "But the present scenario RGST must be delayed for public discussion and concrete consensus," he said and emphasised to extend tax network and bring agriculture in this circle. He also demanded restructuring of FBR to ensure its credibility in the eyes of the taxpayers. He also stressed to exploit natural resources to get maximum revenue.
About mark-up rate, he said only single-digit rate of mark-up could relax the industry to run otherwise rate of inflation and price hiking will increase day by day. The government should follow the austerity plan by cutting down the expenditures on luxuries, he added.