Rawalpindi: (Business Reporter)The Rawalpindi Chamber of Commerce (RCCI) President Saboor Malik has said that the government should provide a conducive environment for economic stability and economic development in the country. Stakeholders should be taken on board in policymaking. Trader friendly tax reforms are readily acceptable to all and provide the necessary facilities to investors and industrialists so that industry and commerce can flourish and create employment and business opportunities. He made these remarks during an interactive session with media persons at Chamber House here on Friday.
RCCI President Saboor Malik said that the interest rates, Electricity, Gas and petroleum products prices should be reduced so that the cost of production can be reduced.
If stakeholders were taken on board, the government and FBR does not have to extend the date of filing the income tax every month.
He said that the business community will support the government in national development and government reforms but it is also necessary for the government to take serious steps in solving the problems of the businessmen. He assured the government that the businessmen are not against tax collections. However we have concerns for not realizing the ground realities for setting tax targets, he further added.
The World Bank has also asked the government to review the tax targets. It looks unwise and unrealistic for setting high revenue targets despite the fact the GDP growth is falling to below 3 percent as predicted by IMF.
The President Chamber said that we are with the administration to eliminate encroachments and do not support any illegal business. Group leader Sohail Altaf said that during 2019 every business was facing many economic challenges and all businesses were at a loss and traders were facing constant losses. He said that the business community is ready at all times to play its role in the development of the country. The business community wants to pay legitimate taxes.