Proposals of business community to be implemented: Asad umar

ISLAMABAD: Finance Minister Asad Umar on Monday said that business community’s proposals and suggestions were imperative to resolve various trade and industry related issues in the country.

Addressing the business community at Federation of Pakistan Chambers of Commerce (FPCCI) office Lahore, the minister said that the proposals of the traders would be implemented for promotion of trade and business.

According to press statement issued by the ministry here, the minister said that in addition to China Pakistan Economic Corridor (CPEC), there was need to focus on domestic economic zones to benefit the local industry.

The federal minister said that the government would bring about reforms in audit system for timely and proper analysis, adding it had also directed the Federal Board of Revenue (FBR) to simplify the tax return mechanism to facilitate taxpayers.

The minister said that the government would provide additional incentives and facilities to the tax-filers to encourage more people to file returns and promote tax culture in the country.

He said that the government intends to introduce new schemes in SMEs sector, adding initially these schemes would be introduced in federal capital and then will be replicated all across the country.

The minister informed the business community that transmission of electricity would be improved and also underlined the need for producing low-cost electricity to reduce the cost of doing business.

Among others, State Minister, Hammad Azhar, President FPCCI, Dawood Khan Achakzai and other businessmen were also present on the occasion.

On the occasion, the businessmen apprised the minister of the issues and problems the business community of the country was facing and urged for their resolution to help economic development.