ISLAMABAD - Federation of Pakistan Chambers of Commerce and Industry President Ghazanfar Bilour has called upon the government to introduce single digit tax rate in the forthcoming budget as it would help in promoting the business activities and improving tax revenue.

He was addressing at reception organised by Islamabad Chamber of Commerce and Industry. Bilour appreciated the move of Miftah Ismail, Advisor to Prime Minister on Finance, Revenue and Economic Affairs, for working to bring new taxpayers into the tax net and termed it a right move to improve the tax revenue instead of burdening the existing taxpayers. He said that government was working to announce a tax amnesty scheme and stressed that the scheme should be across the board.

Ghazanfar Bilour said he has taken up the issue of payment of refunds with the government and informed that the government was working on a new refunds policy through which the refunds would go to the accounts of persons concerned. He stressed that the government should establish Special Economic Zones (SEZs) under CPEC all over the Pakistan to promote investment and industrial activities in the country. He said he would soon call a meeting of all chambers and associations to discuss issues and devise a consensus strategy for the consideration of the government. He lauded the role of ICCI in promoting the interests of business community of the region and assured that FPCCI would cooperate with it in resolving key issues of trade and industry of the Islamabad region.

Sheikh Amir Waheed, President Islamabad Chamber of Commerce & Industry, congratulated the newly elected office bearers of FPCCI. He said that the economy of Pakistan was facing many challenges due to falling exports, rising trade and current accounts deficits and reducing foreign exchange reserves. He hoped that FPCCI would work on these challenges with the government to transform the weaknesses into the opportunities. He said FPCCI should prepare policy recommendations for the government in consultation with all the chambers and associations of the country. He also congratulated S M Munir, patron-in-chief, Iftikhar Ali Malik, chairman, and whole team of United Business Group for achieving 4th consecutive victory in FPCCI elections and hoped that UBG would continue to work for the betterment of the business community of the country.