Business community urges govt. to reduce the costs of doing business

ISLAMABAD: On Thursday the business community urged the government towards reducing the cost of doing business, in order to enhance exports and reduce imports.

They stressed the need for facilitating the exporting industries by improving the taxation system and focusing on value addition sectors to promote exports.

In a statement Federation Of Pakistan Chambers Of Commerce & Industry (FPCCI), Chairman Regional Committee on Industry, Atif Akram Shaikh, urged the government for timely payment of refunds after exports in order to ensure the availability of capital for the industrial sector.

Moreover, he insisted on enhancing production capacities and skill development of the concerned sectors through intervention which will bring about a change in the situation.

He highlighted the need for discouraging all the imports except for machinery and necessary items through revising taxes and duties, besides encouraging remittances through bonus and lucky draws.

More and more expatriates would take interest in sending money through legal channels while smuggling of the dollar should be discouraged through strict administrative measures to boost the economy, he added.

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