Business council proposal hailed

KARACHI: The Federation of Pakistan Chambers and Industry (FPCCI) on Monday lauded Prime Minister Imran Khan’s speech, and welcomed the proposal to create a business advisory council to address problems and challenges faced by the local exporters.

FPCCI Senior Vice President Syed Mazhar Nasir said this would help boost exports and reduce trade deficit, which now stands at $37 billion.

Nasir assured the prime minister that FPCCI would render any help and assistance required in this regard. He called PM Khan’s austerity measures a revolutionary step to get out of the quagmire of crisis amounting to Rs28 trillion, including $95 billion foreign debt and liabilities.

The FPCCI official appreciated the PM’s decision to establish an office at the secretariat dedicated to look into the problems of investors, and to persuade expatriates in investing in Pakistan to boost the economy.

He said the prime minster has rightly said that the SMEs are the backbone of many developing countries and there is a need to promote this sector and for that we need to reduce the cost and difficulties of doing business for them, he pointed out.

He termed the prime minister’s decision to reform the Federal Board of Revenue on a priority basis, as timely, because the FBR had lost its credibility, which discouraged people from paying taxes.