ISLAMABAD - The Confederation of Asia Pacific Chambers of Commerce and Industry (CACCI) Friday stressed the need for creating synergy between government and business community to help resolve economic crisis and put the country on path of progress and prosperity.

Speaking to businessmen after a meeting with Finance Minister, Governor State Bank of Pakistan (SBP), Chairman Federal Board of Revenue (FBR) and others in the Ministry of Finance, Vice President CACCI Tariq Sayeed said gaps in the policymaking need to be bridged to find common ground for mutual interest.

Tariq Sayeed said issues like lack of energy, law and order, Sales Tax and Income Tax audit, SRO191, high mark-up rates, want of amnesty schemes, held up refunds, smuggling and multiple taxation needed to be resolved to help Pakistani products compete in the international market.

On the occasion, Vice President Saarc Chamber of Commerce and Industry (SCCI), Iftikhar Ali Malik demanded incentives for import substitute industry so that gap between imports and exports can be bridged. He said role of business is quite important as economy drives politics and business shapes the social values.

President Federation of Pakistan Chambers of Commerce and Industry, Haji Ghulam Ali said for the first time in history, businesses have the power to make a difference, adding that recent initiatives by Pakistan and India to normalise relations and boost trade proves effectiveness of business community.