FPCCI seeks cut in mark-up rate

LAHORE: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Saturday urged the government to reduce mark-up rate for the promotion of trade and industry, and ensures economic development in the country.

FPCCI President Mian Anjum Nisar made this demand, while chairing a meeting with Automobile Spare Parts Importers and Dealers Association (PASPIDA), All Pakistan Computer Association (APCA) and Lahore Hides and Skin Merchant Trade Group delegations at the federation’s regional office.

High mark-up rates and energy prices, unemployment and trade deficit were serious concerns of the economy, and reduction in interest rate would make the borrowing easy for the private sector and also encourage investment.

The FPCCI president said the country’s industrial sector was faced with numerous challenges, posing threat of shrinking its share / space in the international markets for which the government should reduce the ratio and number of taxes on local products, enabling these to drill out their way in the global market.

In addition, he said, the industry must all be supplied gas and electricity on justified tariffs.

Nisar assured that FPCCI would play its role in restoration of economic activities in the backward areas, and it would also do its best to get access of Pakistani products to various global markets.