MUSHTAQ GHUMMAN

ISLAMABAD: Prime Minister Shahid Khaqan Abbasi will share the government’s 10-year economic plan/vision with the business community within a few days at a function to be held at Federation of Pakistan Chambers of Commerce and Industry (FPCCI), well-informed sources told Business Recorder. The prime minister made this commitment with a delegation of FPCCI’s Business Panel which recently met him in Islamabad. Besides others, the meeting was attended by Special Assistant of Prime Minister on Revenue, Haroon Akhtar Khan.

According to sources, Khan has made commitment to abolish regulatory duty (RD) on imports from Afghanistan whereas RD on other items, especially on raw material, would be reviewed in consultation with other stakeholders.

Haroon Akhtar, sources said, informed the meeting that commercial attaché of Afghanistan Embassy has already approached the Federal Board of Revenue (FBR) for removal of RD on Afghan products, especially fruits and dry fruits.

However, the commerce ministry is of the view that regulatory duty on Afghan products would not be withdrawn until Kabul agrees to hold meeting of Afghanistan-Pakistan Transit Trade Coordination Authority (APTTCA) to discuss trade related issues. Recent contacts between both the countries also remain fruitless.

Afghanistan has made it clear to Pakistan that it would not hold the meeting of APTTCA until India is not made part of the forum, which is not acceptable to Pakistan.

Business panel discussed the following agenda with the Prime Minister: (i) withdrawal of SRO 1035 related to imposition of regulatory duty on 731 items; (ii) delay in sales tax refund; (iii) high price of energy for export-oriented industry; (iv) reduction in cost of doing business and ease of business; (v) equal opportunities for Pakistani investors in CPEC; (vi) development of special economic zone and industrial zones; (v) establishment of Pharmaceutical Export Council; (vi) reduction in taxes; (vii) public private dialogues for policy making; (viii) encouragement of public private partnership; (ix) revamping of Trade Development Authority of Pakistan (TDAP)/expo centers and; (x) abolishment of withholding tax.

The sources said Business Panel during the meeting asked Prime Minister Shahid Khaqan Abbasi to visit head office of FPCCI in Karachi and share the government’s ten years vision which he accepted.

The Business Panel requested the prime minister, who is also Energy Minister, to fix power tariff for export-oriented industry at Rs 9 per unit. The officials sitting in the meeting did not made any such commitment but asked the business community to ensure a specific percentage of increase in exports in return to lowing of electricity tariff to Rs 9 per unit.

The representatives of the Business Panel also sought prime minister’s help in resolution of their petty individual issues.