He said the FPPCI sent a number of recommendations to the federal finance minister for betterment of economy and most of them have been addressed in the relief package.
Daroo Khan said tax waiver for new industries is a highly appreciated step by the federal government; however, he said the scope of this scheme should be enhanced for sick industries. Reduction of tax for banks will promote SMEs and housing finance in the country, he added.
He urged the federal government to abolish GIDC on all industries to reduce the cost of doing business. The GIDC cases, which are in courts, should be resolved through dialogs on the platform of FPCCI.
He said the government has announced to issue promissory note for Rs 80 billion refund claims against the total claims of Rs 300 billion. The amount of promissory notes should be increased, he maintained.
Appreciating the abolishment of 5 percent import duty on newsprint, the President of FPCCI urged the government to reduce duty on other papers for printing of books as currently importers are paying some 62 percent duty on import of papers.
He said the government has increased duty on import of mobile phones, but the government should encourage and allow the import of mobile phone CKDs for setting up of a mobile phone assembling plant in Pakistan. This will bring more foreign investment and create new job opportunities in the country, he added.
"In order to ease the doing of business, submission of monthly withholding tax statement should be extended up to six months", he added.
Senior Vice President Dr Mirza Ikhtiar Baig said almost all major recommendations of the FPCCI have been accepted by the federal government.
The government's measures for setting up of new industries are very encouraging; however, there is need to ensure gas supply to industries, so that Pakistan
could achieve all-time high exports during this fiscal year.
Baig urged the government to cut tax on import of paper to facilitate domestic traders and the textbooks are not made a source of revenue.
Syed Mazhar Ali Nasir advisor to President FPCCI, Muslaim Muhamedi vice president, Ismail Suttar vice president, Noor Ahmed Khan vice president, Muhammad Arshad Jamal Vice President FPCCI and Dr. Noman Butt were also present on the occasion.