LAHORE: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Saturday urged the government to reduce mark-up rate in the country so that trade and industry could be facilitated.
FPCCI President Mian Anjum Nisar made this demand during a meeting with members of the Automobile Spare Parts Importers and Dealers Association (PASPIDA), All Pakistan Computer Association (APCA) and Lahore Hides and Skin Merchant Trade Group.
Nisar was of the view that high mark-up, exorbitant energy prices, unemployment and trade deficit were among top concerns for the economy, adding that reduction in interest rate would make borrowing easy for the private sector and would also encourage investment.
The FPCCI president said that the country’s industrial sector was faced with numerous challenges, posing a threat of shrinking its share/space in the international markets. “The government should reduce the ratio and number of taxes on local products so as to help them drill out their way in the global market. In addition, the industry should be supplied gas and electricity on justified tariffs.”
Nisar assured the members that FPCCI would play its role in the restoration of economic activities, particularly in backward areas. He said the chamber would do its best to get access of Pakistani products to various global markets.
He emphasised the need to further strengthen research and development activities in FPCCI for policy advocacy, besides efforts to improve economic growth, reduce unemployment and poverty, and enhance exports.