President Alvi assures FPCCI of full support

KARACHI: President Arif Alvi on Friday met a high-profile delegation of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and friends at the presidency and listened to their longstanding concerns about the country’s economic policies.

He assured the visitors of full support and corporation, a statement said.

FPCCI President Mian Nasser Hyatt Maggo thanked President Alvi for the warm welcome and diligently listening to business and economic issues; and, their proposed solutions from FPCCI. He emphasised that FPCCI was the apex representative body of the business, industry, and trade communities of Pakistan, and it should have a due say in consultative processes to make various economic policies.

Maggo maintained that federal budget should incorporate recommendations from the business community and simplify tax system through swift and effective reforms’ process. “Simplification of tax rates and streamlining of tax filing process will not only increase number of active taxpayers, but also significantly increase the revenues of FBR.” Maggo raised the issue of sustainability and employment losses in the restaurant industry. He suggested that – ensuring compliance to SOPs – restaurants should be allowed to resume dine-in services.

He also discussed issues pertaining to pharmaceutical industry and their needs with regards to access to finance and importation of hi-tech equipment; specifically during the long-drawn-out period of the Covid-19 pandemic.

The FPCCI president expressed concerns that the local retail sector had not received government support during the pandemic to prevent job losses, unlike the world over. He also urged for ease of doing business, and pointed to cost of doing business in Pakistan as a chronic issue. He offered FPCCI’s full support in policymaking and economic reforms in this regard. The delegation also offered fateha for the nephew of the president who had passed away a day earlier due to complications from corona.