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New FPCCI president wants petroleum SAPM gone

By Javed Mirza
January 08, 2021

KARACHI: Naser Hayat Maggo, President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI), on Thursday lambasted the government for mismanagement on every front and demanded removal of Nadeem Babar, Special Assistant to Prime Minister (SAMP) Ministry of Energy & Petroleum.

“It was his (Nadeem Babar’s) responsibility to timely arrange import of LNG (liquefied natural gas) as everybody knew the demand would be higher in winter and the textile industry running on full capacity,” said Maggo addressing his maiden presser after his election to the association’s top office.

“Not just we are buying expensive gas, the industry across the country is suffering, and even the households are not getting this necessary utility. All this could have been avoided if timely decisions were taken.”

Maggo said Federal Board of Revenue (FBR) was taking unilateral decisions without the input of business community.

“We are the biggest stakeholders and we are not on board in the policymaking. There is no engagement with the business community and the decisions are just imposed on us.”

He said due to harassment by FBR staff and ‘under the table policy’, businessmen had lost trust in FBR policies, which was the reason almost entire small and medium sector was out of tax net.

Magoo said if FPCCI was taken on board and the proposals accepted, the government would be able to collect at least 20 percent more than the target of Rs4.5 trillion. “We know the undocumented and untaxed sectors, and they need to be engaged through FPCCI,” he said adding that small and medium businessmen were either unaware of the tax procedures or illiterate, or had no trust in FBR.

He appreciated the continuation of amnesty scheme for construction sector and recommended similar schemes to other sectors particularly value added engineering, agriculture and food sectors.

The newly elected President FPCCI vowed to reform and reorganise the country’s apex trade body.

“FPCCI used to be a prestigious institution and played a vital role in policy making as well as trade/business facilitation. We will strive to restore that status of the federation.”

Emphasising on research and development at FPCCI, Magoo vowed to unite the scattered trade bodies under one platform.