A delegation of SCCI visit to FPCCI Regional Office Lahore

Lahore: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) will organize “Punjab Business Symposium” on today here in Lahore.

The purpose of holding Business Symposium is to highlight business community concerns and opinions to the government by providing relevant suggestions for their solution.

FPCCI Vice President & Regional Chairman, Ch.Arfan Yousaf expressed these views while talking to a delegation of Sahiwal Chamber of Commerce & Industry (SCCI) at the FPCCI Regional Office Lahore.

He said Government and business community should jointly come forward for the betterment of the country as the cost of doing business and trade is a serious concern of business community. He said efforts should be made for the promotion of exports, encourage foreign investment and stimulate economic activity in the country.

The Chairman said all district will be focused separately as per their issues and concerns.  The Federal Budget/Finance Bill 2017 and its irritants and other economic issues will be focused. A large number of business elites including Members of Executive Committee, General Body, Trade Bodies and other Prominent Businessmen are expected to attend the event.

Ch. Arfan said he is well aware with the current issues of business community and efforts will be made in order to resolve all issues of business community relating to tax, regulatory duty, customs, smuggling refund and rebate, starting business and high cost of doing business. High utility expenses of electricity and gas have badly disturbed the manufacturing sector a detailed report of issues and concerns of each district of Punjab will be prepared.

He has also welcomed the Prime Minister’s decision of one-time tax amnesty scheme to bring back the offshore wealth of Pakistanis deposited in foreign banks. They have invested in Middle East, Far Eastern Countries, Western Europe and offshore companies, while net inflows of investment are declining in Pakistan. Several countries have introduced One-time Amnesty Scheme for acceleration in the economic growth through production and utilization of hidden liquid assets in the main stream of the economy.

He stated that the inflow of FDI is directly associated with the trend of investment by local investors that gives confidence to the foreign investors.

Ch. Arfan also proposed that the objective of this One-time Amnesty Scheme should not be to provide a shelter to illegal practices but to bring the isolated liquid assets into own economy.