RCCI shows concern on growing economic uncertainty

Rawalpindi: Business community of Rawalpindi city has said that traders including masses are suffering from the sit-in at Faizabad and urged government to resolve the issue as soon as possible but with amicably.
The Rawalpindi Chamber of Commerce and Industry (RCCI) president Zahid Latif Khan on Thursday has said that business community has grave concerns on growing political and economic uncertainty as both are interlinked with each other. Investors specially foreign investors can only be attracted once we have political stability and continuation of economic policies.
He said traders including masses suffering from the sit-in at Faizabad and urged government to resolve the issue as soon as possible but with amicably. Senior vice President Muhammad Nasir Mirza, Vice President Khalid Farooq Qazi, former president Mian Humayun Parvez, RCCI members and others were also present on the occasion.
He said government should provide conducive environment for boosting trade and industry and economic stability can be earned by removing bottle necks. An agile effort is required to thumb down negative indicators.
While referring to China Pakistan Economic Corridor (CPEC) he said establishing industrial zones under this multi billion project will help national economy and creating thousands of jobs. However, he has shown grave concern on recent wave of terrorism in Baluchistan. He referred to Chairman Joint Chiefs of Staff Committee General Zubiar Mahmood Hayat recent statement, “India’s Research and Analysis Wing (RAW) had established a cell in 2015 dedicated to sabotaging China-Pakistan Economic Corridor (CPEC) projects in Pakistan”, and said that traders along with political parties must show unity among their ranks and must take all possible steps to foil the nefarious designs of enemies of Pakistan. We understand that along with non-state activities, smuggling will be another problem that has to be addressed by securing border, he added. RCCI is going to organise a CPEC conference in China early next year, he informed.
While answering to a question, RCCI chief said that it is very concerning that trade deficit, import bill and circular debt has been widen. Government must take immediate and concrete steps to improve exports and lower taxation.
Also, Zahid Latif Khan criticised government for not addressing the grievances of certain sectors, especially Agriculture, textile and leather industry. Replying a question on taxation issue, he said, currently, the number of income tax filers is 1.4 million, and FBR is setting up a target of 2 million, Traders will provide full cooperation in this regard, however, harassing traders in the name of collecting taxes must not be allowed. The matter related to encroachment, parking plaza and public toilets in the city has been taken up and raised with station commander and CEO Cantonment Board, he added.