The government should not give access to the Federal Board of Revenue (FBR) to the bank accounts as it will foment mistrust among the government and business community of the country. In a statement issue here on Monday, Engineer Muhammad Saeed Sheikh President Faisalabad Chamber of Commerce and Industry (FCCI) said the government and private sectors are important segments of our economy and both are working for the revival and stabilisation of the economy.
He said that both of these have to develop better understanding and cohesion to promote healthy business and economic activities in the country. Commenting upon the proposal to give access to tax authorities to the bank accounts of businessmen, he said that it will create undue harassment among the traders who will avoid transecting their business deals through proper banking channels. "It will also encourage the "Hundi" and "Parchi" system in the local market which is detrimental for the healthy growth of national economy. He said that the government should develop business-friendly relations with the traders so that they could mutually work for the promotion of healthy business activities in the country. He also repeated the FCCI demand that all economic related policies should be discussed with the stakeholders concerned before making any final decision. He said the government should also give due representation to the business leaders in the policy-making institutions to avoid any confrontation through unilateral decision making. He said the government has failed to add one lac new tax payers in the tax net and if the one-sided policies continued to prevail, it would create problem not only for the govt, but also for the business community.