PESHAWAR: Sarhad Chamber of Commerce and Industry (SCCI) President Fuad Ishaq and Member Operation, Federal Board of Revenue (FBR) Islamabad Farid Iqbal have agreed to form a joint committee, comprising members of the chamber and the Customs Department to resolve the issues being faced by the business community, importers and exporters.
According to an SCCI statement, FBR Member (Operation) Farid Iqbal visited the chamber house on Friday and held a meeting SCCI chief Fuad ishaq.
On the occasion, the SCCI chief demanded bringing the tax ratio to single digit to strengthen the economy, trade, and businesses. He called for broadening the existing tax net by including new people instead of overburdening the current taxpayers.
SCCI senior vice president Sanaullah Khan, Senator Nauman Wazir, former president Zahidullah Shinwari, Riaz Arshad, Haji Muhammad Afzal, Customs KP chief collector Saeed Akram, Collector Customs Enforcement Khawaja Kurrum Naeem, Collector Custom Appraisement Amjadur Rehman, Director Customs Transit Arbab Qaiser, PRO Customs Peshawar Sohail Ahmad, SCCI’ executive committee members Hamza Ibrahim Butt, Minhajuddin, and former senior vice president Ziaul Haq Sarhadi, Ihsanullah, Rashid Iqbal Siddiqui, FMCG president Atif Shehzad, general secretary Aftab Amin, Khalid Farooq, traders, industrialists and importers and exporters were present during the meeting.
Fuad Ishaq while speaking on the occasion called for simplifying the existing taxation system through reforms.
He demanded early for Khyber-Pakhtunkhwa businessmen refunds. He also stressed the need for removing reservations of the business community attached with consumers’ goods regarding the imposition of the Point of Sale (POS) system.
He suggested equalization tariffs of 224 items with duties of Afghanistan.
Similarly, he proposed five year tax-holidays for KP businesses and industries for all taxes and provision of uninterrupted gas and electricity supply to industries and making reduction in their prices. He said business friendly policies should be implemented to flourish industries, business and economy.
The FBR member (Operation) while responding to various queries of the participants said that facilitation of the business community, resolution of their problems and bringing ease in taxation system is topmost priority.
He noted that Pak-Afghan bilateral trade is passing through a challenging phase. He, however, said steps were taken for streamline and smooth border trade, because a prosperous business community and taxpayers are essential to economic stability and development in the country.
Pakistan’s economy 70 percent dependent on border trade, and government always takes initiatives keeping in view the national interest, Mr Iqbal said. He agreed with proposals of SCCI chief and other participants regarding bringing reforms in taxation system and amicable resolution of business community problems.
Farid Iqbal assured the issues would be taken up with relevant authorities and would resolve amicably. He said all possible steps would be taken to provide relief to the business community.
