FPCCI lauds finance minister’s vision for economic growth

ISLAMABAD: Federation of Pakistan Chambers of Commerce and Industry (FCCI) on Thursday lauded the vision of Federal Minister for Finance and Revenue Shaukat Tarin for economic growth and social prosperity in the country.

In an appreciation letter, addressed to Finance Minister Shaukat Tarin, President Federation of Pakistan Chambers of Commerce and Industry Mian Nasser Hayat said that his vision in respect of preferring economic stimulus approach over fiscal consolidation approach in the given challenging situation amid third wave of COVID-19 was highly appreciated.

"Your address to United Nations Economic and Social Commission for Asia and Pacific (UNESCAP) and testifying before the National Assembly Standing Committee on Finance reflects the approach you are intending to pursue for economic growth" he remarked.

He said that it was the time to shift from stabilisation to economic growth towards the need of pulling the masses from poverty and provide them enabling environment to contribute in the growth development needs to reduce the poverty and provide employments in the young demographic dominated country.

President FPCCI also appreciated finance minister thinking in regard of equitable development across the board and said that the minister had rightly pointed out that major revenues were being spent by provinces on nine major cities, while the health and education sectors across the country are under-funded and ignored.

Nasser Hayat said that the revised budget strategy paper was once again recommended to be inclusive of “FPCCI–Proposals for simplified taxation and accelerated growth”, which recommends lower rate of taxes and broadening of base as the probable solution to enhance the revenue.