FPCCI Says Cost of Doing Business in Pakistan 30-35% Higher Than Region
FPCCI President Atif Ikram Sheikh calls for measures to reduce the cost of doing business in Pakistan.
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has called for urgent steps to reduce the cost of doing business in Pakistan.
FPCCI President Atif Ikram Sheikh said business costs in the country are 30 to 35 percent higher than the region. He said lower operating costs could help businesses compete in regional and international markets.
Sheikh urged the government to reduce the electricity tariff from 11 cents to 7 cents. He also called for a cut in the gas tariff from 14 cents to 9 cents.
FPCCI Seeks Lower Taxes and Interest Rates
Sheikh said businesses face total taxes of up to 65 percent. He called for a reduction to 35 percent.
He also proposed an interest rate of 9.5 percent. He said authorities should gradually lower it to 6 percent.
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The FPCCI president also called for a reduction in the levy on petrol prices. He urged the government to abolish taxes on electric vehicles and batteries to support alternative energy solutions.
Business Community Seeks Industrial Infrastructure
FPCCI Regional Chairman and Vice President Zaki Aijaz called for better infrastructure around industrial estates.
He said authorities should build dual-carriageway roads alongside industrial estates. He also urged the installation of wastewater treatment plants in all industrial estates.
Aijaz said developers should follow allotment procedures in Special Economic Zones and Export Processing Zones.
FPCCI also called for Boards of Management in all industrial estates. The federation wants authorities to revise the Non-Utilization Fee for industrial estates.
It also called for a reduction in the Punjab Infrastructure Development Cess.
New PIEDMC Chairman Takes Charge
Aijaz paid tribute to former PIEDMC Chairman Major (Retd) Javed Iqbal for his services.
He also congratulated newly elected PIEDMC Chairman Shahzad Azam Khan on assuming his responsibilities.
Aijaz expressed hope that Khan would use his experience and business community links to support industrial development and investment. He also said the new chairman could help address issues facing the business community.
Punjab Plans Financing Support for SMEs
Punjab Industries Secretary Muhammad Umar Masood said easy financing for small and medium-sized enterprises remains a priority for the provincial government.
He said the Punjab Government plans to launch capital and working capital financing schemes for businesses.
Masood said the Chief Minister of Punjab will announce the schemes soon.
