The business community is driving force of the economy but it cannot play its due role in presence of severe problems including withholding tax on banking transactions, misuse of the discretionary powers by the tax collection machinery, high prices of utility prices and delay in refunds.
The Lahore Chamber of Commerce and Industry (LCCI) LCCI Senior Vice President Khawaja Shahzad Nasir and Vice President Faheem-ur-Rehman Saigal expressed these views while speaking at a meeting with a delegation of All Pakistan Leather, Rexene and Shoe Material Association led by its president Abid Saeed Paul here Thursday.
The businessmen are facing different issues like harassment, lack of continuous energy supply and severe traffic jams therefore the government should take steps to resolve these issues. The government must develop policies conducive to business environment and address genuine issues of the business community, they said.
The LCCI office-bearers said that there is an urgent need to reform the taxation system by engaging all the stakeholders. They also emphasized to get rid of the double taxation system that is hampering trade and economic activities in the country. The Federal Board of Revenue should approach relevant association for the survey for filers and non-filers instead of taking direct actions. It would help much needed trust building between private sector and the government, they said. They also called for construction of parking plazas at different parts of the city to overcome the issues of traffic.
Earlier, Abid Saeed Paul informed the LCCI office-bearers that association would soon start installation of security cameras in the market. An appropriate traffic system should be developed in consultation with the stakeholders, he added.