RAWALPINDI - MQM Deputy Convener and Parliamentary Leader, Dr Farooq Sattar, has said that government should bring peace in Karachi first if it wants to make the country economically strong.

“Karachi is the business hub of Pakistan and riots and bloodshed in the city has been weakening the economy of Pakistan,” Dr Farooq Sattar said while addressing business community here at a local hotel on Saturday.

The function was organised by Rawalpindi Chamber of Commerce and Industry (RCCI) which was attended by RCCI President Jawed Akhter Bhatti, MNA Rashid Godil, MNA Khawaja Sohail, MNA Farhat Ali Khan, Dr Shabbar Zaidi and presidents of different chambers of commerce from all over the country.

Dr Farooq Sattar, while giving the MQM Charter of Economy Guidelines for Budget 2012-13, said that Pakistan was in the grip of worst economic crisis, which doubled the miseries of common man, besides questioning the national integrity.

He said that MQM would present its shadow budget at the end of this month, which would force the government to make good alternative budget. “Karachi is the largest city of the country and very important for the economic growth as well. If Karachi will survive then whole country will be economically strengthen. There is dire need to maintain peace in Karachi to generate business activities,” he added. MQM chief Altaf Hussain has already said that solution of Karachi crisis is zero tolerance against the terrorists and criminals, said Sattar adding that there was need to punish terrorists and the criminals without any pressure, as they did not have any religion, part or country rather they were just enemies of Pakistan. He said that real independence, freedom and sovereignty of a country was its independent, free and sovereign economy.

He said Altaf Hussain’s economic vision or MQM charter of economy envisaged a policy, plan and program that need to be implemented on war footing basis in order to revive and revitalize the ever down sliding and melting down economy of Pakistan and mitigate the biggest ever threat that it afflicts to the very integrity and survival of Pakistan. Talking about the Federal Budget 2012-13 proposals, MQM Deputy Convener said that all taxable income must be taxed, should be the theme for the reforms for budget 2012-13, thus broadening of tax base should result in the collection of income tax without increasing the tax rate, thus direct to indirect tax ration which is 32 to 68 percent should improve to 40 to 60 percent at least to begin with.

He said that reduction in sales tax rate from 16 to 12 percent, reduce prices and burden of common man, reduction of maximum duty rate on imports to 10 percent to with minimum of 5 percent, curb under invoicing, Afghan transit trade, kill SRO culture, abolition of petroleum levy, improves industry and common man, reduction in discount rate from 12 to 10 percent, cost of doing business, government’s cost of borrowing, reduction in federal government expenditures on account of devolution, elimination of losses due to loss making public sector enterprise, eliminating corruption and efficiently improving FBR collections.

He said we have to solve the energy crisis on war footing basis to facilitate the business community throw this way we would be able to generate business activities. He said like this very have to facilitate the formers as well to get best results from them.

“We have to make our country economically strong first then it would not matter how we the relations we have with Obama’s USA. We have to make our relation with Bill Gates’s USA, which will be more helping for us to generate business activities” MQM Parliamentary leader stated.

Earlier, RCCI President Jawed Akhter Bhatti said that RCCI was striving hard to organise different program to solve the issues of business activities. He said that RCCI taken the initiative to invite political parties to know about their economic revival plan. It was decided in the meeting of President of Chambers from all over that country that we would get the economic revival plan from all the political parties then we would announce our support to the parties.

He said business community was badly suffering from the high inflation rate and energy crisis. It has become very difficult for the small businessmen to run their units and to generate business activities.

RCCI President Jawed Akhter Bhatti said that MQM was the first party who showed their willingness to come first and give their economic revival plan on our request.