Former President Federation Pakistan Chamber of Commerce and Industry (FPCCI), Chaudhry Saeed stressed the need to diversify existing manufacturing sectors and agriculture products in Azad Kashmir to boost the national economy, besides encouraging the domestic tourism of the valley.
During a visit to Karachi Press Club on Thursday, he said the manufacturing units in Azad Kashmir had almost closed due to the expensive electricity and dual taxations, leaving textile, ghee producing and other such manufacturing units baldy affected.
He urged the Federal Board of Revenue (FBR) to review its taxation system towards Kashmir businesses with a view to stem closing down of industrial units there. He hoped the reconsideration of taxation policy for Azad Kashmir would help create an investment-friendly environment in the valley. "The FBR should rationalise the taxation system," he demanded, saying the per capita income is still higher in Kashmir as there is no tax evasion by the businessmen. He pointed out that power tariffs for Kashmir is also higher by nearly to Rs 8 per unit, which also needs reconsideration and should be receded.
He pointed out Kashmir agriculture sector has the potential to produce global quality of tea if the government initiated an investment friendly policy to attract the foreign businessmen for farming. He said Kashmir can also grow an international standard of flowers but regretted that Pakistan has no significant share in the global trade of flowers, which stands at $1.5 billion.
Chaudhry Saeed also showed concerns that Kashmir received Rs 9 billion during last year under the federal divisible pool whereas its share stands two percent. He said Rs 30 billion as per accord should be given to Kashmir. He said the Kashmir contribution to the foreign exchange reserves stands $2.6 billion out of the total $13 billion through remittances.
To a question, he said Kashmir could not attract foreign tourists to its valley because of the government's policy, which disallows the global visitors. However, local tourists should be encouraged to visit Kashmir, which will help boost, the local economy of people. He cited the Indian example where around million of local Indian tour the occupied Kashmir every year, which allow the domestic businesses to grow.
He pointed out that after the 9/11 incident, the tourists of Arab World thronged to Far Eastern countries despite Pakistan had greater tourism facilities and spots to enthrall the global visitors but failed attract any of them. About the Halal Food global trade, he said Pakistan again did not place its products on the global market while Thailand had a greater share with improved expertise to export products to the international consumers.
The former FPCCI President who was also the Finance Secretary of Pakistan Muslim League (Nawaz) said his party had already set an economic plan how to augment the national economy and enhance the productivity, if come to power. On the occasion, President Karachi Press Club, Tahir Hassan Khan and Treasurer of Karachi Press Club, Muhammad Rizwan Bhatti presented a shield and traditional Ijrak to the guest.-PR