LAHORE - The Lahore Chamber of Commerce & Industry has urged the Federal Board of Revenue to stop issuing undue notices to the businessmen as it is vitiating the business atmosphere in the country.

While chairing the LCCI Executive Committee meeting held here Monday, LCCI President Sheikh Muhammad Arshad said that the repeated issuance of notices is not only hitting businesses hard but also damaging government’s drive to expand tax net. LCCI Senior Vice President Almas Hyder and Vice President Nasir Saeed also addressed the meeting.

Sheikh Muhammad Arshad said that all the leading economies were giving incentives to expedite economic activities in their respective countries but in Pakistan the people who are sitting at the helm of affairs were doing the otherwise at this point in time when almost all the businesses were facing a number of internal and external pressures.

The LCCI President said that the manufacturing sector is already passing through very critical times due to various internal and external challenges and in dire need of handholding by the government to run their businesses.

He said that the private sector was ready to supplement all the government efforts aimed at revival of economic activities in the country if they are provided breathing space but in the presence of such anti business tactics, it would be very difficult for the private sector to continue with their businesses.

He said that acts like raids on industrial units and shops would hamper the economic activities. He said that the Federal Finance Minister Ishaq Dar should take notice of the whole situation and stop the FBR officials from entering into the business premises. They said that if there is an urgent need to take action against any particular industrial unit, the FBR officials should be directed to take concerned association or the Lahore Chamber of Commerce & Industry on board.

Sheikh Muhammad Arshad further said that economically challenged countries cannot play the role of global economic leaders therefore federal budget documents should be a starting point for our new economic journey. He said that there is not dearth of resources in the country but there is only need to fix an accurate direction.

He said that trade & industry is the engine of growth and country cannot move ahead without resolving its major issues. He said that all possible measures should be taken in the federal budget to unravel the problems which are hampering the trade & economic activities.