SCCI to hold APC to map out charter for economic revival of KP, Fata

PESHAWAR: The traders and business community of Khyber Pakhtunkhwa has decided to hold an all parties conference (APC) to prepare a 'Charter of Economy' for economic revival of province and federally administered tribal areas (Fata).

It was announced by Zahidullah Shinwari, president Sarhad Chamber of Commerce and Industry (SCCI) during a press conference at the Chamber House here on Thursday. He said KP and Fata are most affected regions facing severe economic recession due to militancy and war on terror and irrational economic policies by successive governments.

To offset the effects of the decades-long war on terror and militancy in the province and its adjoining tribal areas, Zahidullah Shinwari said the SCCI would hold an APC to sketch out a charter for economic revival of KP  and Fata.

Shinwari said the conference was expected to be held in January. He added that 30 senators, 43 MNAs, lawyers, chartered accountants, senior representatives of business community, civil society and media would be invited to a briefing on economic situation of the province and Fata.

He informed that they were also planning to challenge anti-business policies in Peshawar High Court and Supreme Court of Pakistan. Some of these anti-business policies included fuel adjustment charges, Gas Infrastructure Development Cess (GIDC), Employees Old-Age Benefits Institution (EOBI), SNGPL, WAPDA, Tax Refund, Professional Tax, Further Tax, Withholding Tax, I&I, SECP, Textbook Board, Peshawar, new policy and closure of industries under the pretext of environmental pollution.

He said that it was a matter of concern that bilateral trade between Pakistan and Afghanistan had dropped from already low level of $2.5 billion to $700 million and main reason behind it was new Afghan Trade Policy and some anti-business decisions taken by governments of both the countries.

The SCCI president also criticised recent decision regarding imposition of Regulatory Duty from 10 to 80 percent on 731 items, inflicting an additional burden of 25 billion on masses. He criticised provincial government and said that no proper attention was given to the problems of business community in the last four and half years.