Our Staff Reporter KARACHI - Federal Board of Revenue (FBR) Chairman Salman Siddiqu has said Islamabad Electric Supply Corporation would be privatised as per deadline set by Privatization Commission. He disclosed this while addressing a meeting with the office-bearers of the Karachi Chamber of Commerce and Industry (KCCI) at a local hotel here on Saturday. Noted leader of the business community Siraj Qassam Teli, Advisor to Sindh CM, Zubair Ahmed Moti Walla, President KCCI Saeed Shafiq, Vice President Junaid Ismail Makda and a large number of businessmen were present at the meeting. Chairman FBR informed the meeting that trade deficit was 4.7 percent of the total GDP. The national economy due to various reasons have entered blind alley because of which it was not possible to provide much relief to the businessmen community. In spite of this situation, he said the government had planned to provide Rs12 billion subsidy to the power sector and in order to increase revenue generation the government has also enhanced agriculture tax to three percent from one percent. He put forth a suggestion that businessmen community should form a committee to solve issues related to taxes or to make amendments in other laws and added FBR would join that forum to facilitate the committee to be effective and result oriented. He, however, emphasised that Pakistan needed to change its tax culture. He reminded the business leaders that it was time to give the country at a time when things were not progressing as desired and planned in the right direction in trade and commerce sectors. He admitted that there were a number of things which needed improvement in various areas and for the sake of the country. He rejected the impression that national economic policies were framed on international pressure or on the dictates of international stakeholders. But the fact remained that whenever "we request loans from the international community, they just ask us, how we are going to return those loans and we have to satisfy them and for that we have to inform them about our future economic policies." Earlier, the leader of the businessmen community, Siraj Qassam Teli criticised the policies of FBR as well as of the government and asked them to review the policies, if the government wanted to revive the economy. President Karachi Chamber of Commerce and Industry Saeed Shafiq also addressed on this occasion.