Field Marshal Asim Munir has pledged his full support to the business community in its efforts to revive and strengthen Pakistan’s economy during a meeting with a delegation of leading businessmen at the General Headquarters (GHQ).
The delegation, led by Gohar Ijaz and including Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), and representatives from the All Pakistan Textile Mills Association (APTMA), presented a detailed overview of the challenges facing the industrial sector, with a focus on the expanded powers of the Federal Board of Revenue (FBR) and controversial provisions under Sections 37A and 37B of the Sales Tax Act 1990, which allow for the arrest and detention of business figures.
The FPCCI president expressed gratitude to the army chief for directing that the enforcement of these provisions be put on hold and emphasised the need for a constructive dialogue between the FBR and the business community to resolve ongoing disputes. The delegation also praised the government’s and the Special Investment Facilitation Council’s (SIFC) efforts in stabilising the economy.
In addition, the FPCCI chief called for interest rates to be reduced in line with inflation to support business growth, and for the prompt notification of amendments to the Export Facilitation Scheme (EFS), especially concerning the exclusion of cotton, yarn, and greige fabric from the scheme, as well as the imposition of an 18% sales tax on their imports.
The delegation also raised concerns about the high electricity prices, which continue to burden manufacturers and exporters. The FPCCI acknowledged Field Marshal Munir’s efforts to secure more competitive electricity tariffs for the industrial and export sectors.
“We salute the Field Marshall’s exemplary commitment to engaging with the business community and industry, demonstrating both patience and concern for economic issues faced by the businesses and people of Pakistan,” APTMA said in a statement.
The meeting, which lasted almost four hours, was managed by Interior Minister Mohsin Naqvi. The delegation expressed confidence that under the leadership of Field Marshal Asim Munir, Pakistan would unlock its economic potential, restore investor confidence, and achieve sustainable economic growth.
