KARACHI: President Korangi Association of Trade and Industry (KATI) Salman Aslam has demanded withdrawal of FBR decision to freeze the accounts of defaulters.

Salman Aslam said that this move would damage the confidence of industrialists and exporters in the government.

He said industrialists were struggling at a time when production costs and inflation were at an all-time high and the economy was grappling with a global financial crisis such as the COVID-19 crisis.

Salman Aslam said that instead of promoting industrialization, the government was promoting measures that would lead to flight of capital from the country and reduce of Pakistani exporters due to mistrust of companies placing orders abroad will stop.

He hoped that the Prime Minister and the Finance Minister would take immediate notice of this issue so that the confidence of investors in the country would be restored and the economy would continue to run as per the set targets.

President KATI appealed to Prime Minister Imran Khan and Finance Minister Shaukat Tareen to immediately reverse the anti-business decision.

Copyright Business Recorder, 2021