Businessmen cannot afford more taxes: FPCCI

KARACHI: The Pakistani business community cannot afford to withstand any new tax burdens, Federation of Pakistan Chambers of Commerce Industry (FPCCI) President Mian Muhammad Adrees said on Monday in view of the upcoming budget 2015-16.
In a statement, Adrees said the economy of Pakistan was passing through a revival phase, and the foreign investments particularly from China and other countries were for development projects, including energy and infrastructure. “Our country cannot afford any ruthless measures, which discourage foreign direct investment (FDI), and business and trade activities in the country,” he said.
Mian Adrees said the business community considered the Pakistan Muslim League-Nawaz (PML-N) government as business, trade and investment friendly, but this year they were worried about the forthcoming budget which seemed un-liberalised. He said the business community was the real stakeholders, who were already under burdened with different levies. “We will not be able to afford any new tax burden,” he said. The FPCCI president said any anti-business and trade budget might be rejected by the business community and they might be enforced to protest against the government.
He warned the country could not afford political in-stability. If any political party joined the protests against the new budget, it would ultimately affect the forthcoming local bodies’ elections in Punjab and other provinces. Adrees urged the government to consider the proposals given by the business community who are the real stakeholders and genuine tax payers. He requested Prime Minister Nawaz Sharif for a business friendly budget, so that the people of Pakistan get some relief.