Meeting of Executive Committee of Federation of Pakistan Chambers of Commerce and Industry held

Lahore, January 28, 2016 (PPI-OT): The 2nd meeting of Executive Committee of FPCCI under the Chair of Abdul Rauf Alam, President FPCCI held at Lahore and the members from Balochistan, Sindh and KPK joined via Video Conferencing Setup at Karachi and Lahore. The Senior Vice President FPCCI, Khalid Tawab, Vice Presidents FPCCI Mian Rehman Aziz and Sajida Zulfiqar, Immediate Past President FPCCI, Mian Adrees, S. M. Muneer, Iftikhar Ali Malik, S. M. Naseer and large number of Executive Members of FPCCI attended the meeting at Lahore. In Karachi Vice Presidents FPCCI, Muhammad Hanif Gohar, Zulfiqar Ali Sheikh, Faisal Jamal Dashti and Arshad Farooq and other members has conducted the meeting in Karachi and Executive Committee Member Shakil Muneer has conducted the meeting in Islamabad.

The President FPCCI Abdul Rauf Alam presented his vision about FPCCI and said that more efforts are required to uplift the image of FPCCI to the level which in fact, it deserves. The house appreciated his vision about FPCCI.

The Executive Members discussed various national economic matters at length; they opined that recently announced tax amnesty scheme is not in favour of our economy and it would also not beneficial to the filers, non filers and SME sector. They suggested that the government should re-visit the scheme before presenting in the national assembly for approval and FPCCI should be taken into confidence in the matter.

The matter of China – Pakistan Economic Corridor – CPEC was also discussed at length and in view of its importance the President FPCCI Abdul Rauf Alam formed an exclusive committee under his chair and also included Dr. Mirza Ikhtiar Baig and Senator Hani Ghulam Ali in the committee. The committee will look after the several aspects related to CEPC comprised threats and opportunities; will be prepared their proposals for the improvement of CPEC Project for the Government and will also have an exclusive meeting with Prime Minister of Pakistan in this regard.

The prices of petroleum products in Pakistan were also discussed in the meeting and the house was of unanimous opinion that the business community and common people are still deprived from the benefits of the global reduced oil prices. They also expressed their deep concern over negative impact of reduction in oil prices on trade deficit which is increased despite of the fact that in the current scenario the trade deficit should be decreased.

The Committee also expressed its concern over the non implementation of PM’s order for slashing the electricity prices for the industrial sector by Rs. 3/- per unit from January, 2016. They opined that this prudent and vibrant order of the Prime Minister should be immediately implemented in its true nature so that the industries of Pakistan should be flourished and cost of doing decreases.

The President FPCCI drew the attention of the house towards the forthcoming national budget and asked them to focus on it on priority basis. He formed a committee for this purpose to finalize the budget proposals for onward submission to the government. He said that all member bodies of FPCCI should submit their budget proposals positively by 10th February, 2016 so that it can be compiled and discussed.

The matter of sales tax refunds was also discussed and the house expressed their apprehension about the current ratio of monthly refunds to the business community. They suggested that the amount of sales tax monthly refunds should be increased to the level so that the refunds should be completed in a year. They were of the view that in the next coming year the policy of no-tax and no-refund should be adopted.

The Committee also noticed threats of Sindh Board of Revenue about levying sales tax on exportable services and said that such tax has never been found in any country over exportable services. They suggested to immediately discuss the matter with SBR for withdrawing the same.

On the suggestion of President FPCCI Abdul Rauf Alam the house approved unanimously to support the government in all national economic issues for the revival of economy and assured FPCCI’s support and cooperation for privatization of state owned enterprises running in losses since long subject to take FPCCI into confidence.

For more information, contact:
M. A. Lodhi
Secretary General
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Karachi-75600, Pakistan
Tel: +92-21-35873691, 93-94
Fax: +92-21-35874332