RECORDER REPORT

KARACHI: President of Karachi Chamber of Commerce and Industry (KCCI) , Muffasar Atta Malik, has criticized the role of Federal Board of Revenue (FBR) for not focusing on industry's problems in the larger interest of economy as well as people of Pakistan.

Speaking at annual dinner arranged by Pakistan Soap Manufacturers Association (PSMA), said the growth of industries and serving the business community must be the prime aspect of the government.

He briefed a few points about KCCI's recent meeting with the federal finance minister, said that the government is holding consultation for setting up the Business Advisory Council to establish a liaison between the government and the business community to make Pakistan the regional hub for investors.

He further said that it is his vision to introduce latest technology in tax system to reduce hassle and bring in more transparency to the system.

He would soon introduce necessary changes in the Finance Act 2018 to make it more relevant to the current economic state of the country and reflective of the progressive vision of the new government. The finance minister assured not to harass tax payers.

He further said that there is a lack of planning in newly formed government but hoped that government will give prompt attention to problems of trade & industry and try to resolve soon.

Vice President M Rehan Hanif assured that all genuine problems of soap manufacturers would be resolved in a good manner, because their industries generate

huge revenue to the government.

He said every year different trade bodies forward 1700 to 1800 their proposals, but government does not give due attention to their proposals.

He criticises the government's tax policy; especially imposition of RD on different raw materials is very damaging to industries.

He further added that KCCI took quick action against RD and we do hope most of the basic raw materials will be RD free very soon.

Outgoing Chairman of the PSMA, Tanvir Ahmad Sufi said the local industry is facing very tough time, so serious efforts should be made to encourage the private sector to play an effective role for reviving economy.

He highlighted problems faced by its members, commenting the current economic conditions of the country, he said that soap industry is passing through a very critical phase due to high rate of utilities, such as electricity, gas and water; therefore we can not compete with other countries in the international market.

Secondly, there are more than a dozens taxes on our industries to manage them is quite expensive and cumbersome.

He appreciated the role of KCCI for taking immediate action against various major hurdles of business community. We are thankful KCCI's assistance to highlight the problems of soap industry also and tried its best to resolve the problem.

The newly elected Chairman of PSMA, Usman Ahmed appreciated the efforts and struggles of soap manufacturers and explained at length all issues faced by the soap manufacturers in the country so that definite measures and policies are put into practice to facilitate the industry.