LAHORE (PPI) - SAARC Chamber of Commerce and Industry Vice President Iftikhar Ali Malik has said that the private sector is the engine of growth as is not only creating jobs but also giving much needed revenue to the government therefore it must be trusted and respected by all government departments. Loopholes in the system must be plugged to overcome the issues being faced by the economy. The SAARC Chamber Vice President was speaking at a seminar on Role of Post Clearance Audit in Facilitation of Trade here on Saturday at the Lahore Chamber of Commerce and Industry. Member Customs FBR Mumtaz Haider Rizvi, LCCI former president Mian Anjum Nisar, former Vice President Aftab Ahmad Vohra, SDC chairman Rehmatullah Javed, Director Ali Salman Abbasi and Additional Director Asif Jah, DG Humayun Khan Sikandari, Dr. Imran Rasooll, Mohammad Arslan and Collector Customs Lahore Umer Mehdi, also spoke on the occasion. Iftikhar Ali Malik said that Government should make trade-friendly policies instead of harassing the businessmen by giving discretionary powers to the tax collecting agencies. Limitation of trade and industry be kept in view. Shortage of energy, gas, water, transport has crippled the industry, reduced its production, sales are dropping, in these conditions from where they pay taxes. Government should bring untaxed sectors in the tax network. He said that blames to go to the government that has failed in developing infrastructure to promote trade & industry. Previous government lacked planning and ignored the increasing demand for energy. Educated youth is not getting jobs but the government only thinking for revenues. Little allocations have been made for education but no attention has been given to adopt austerity and reduce expenses. About post clearance audit, he said that it has its advantages but the approach of Custom Department must be friendly. Revenue comes from business i.e. services, trade and industry as in the year 2003 govt collected Rs510 billion that has reached Rs1667 billion in 2010-11 while government has set revenue collection target of Rs1952 billion for the financial year 2011-12.