FPCCI urges the government to bring back funds stashed in foreign banks

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Friday said that the victory of PTI in the general elections has improved confidence of the business community.

Stock and money market has started improving before the installation of the new government which is heartening, it said.

The new government will boost investment and pace of work on the developmental projects while improving the image of the country, said Karim Aziz Malik, VP FPCCI.

Speaking to the business community, he said that as Prime Minister Imran Khan will improve relations with neighbouring countries, investment climate in the country, help poor and farmers, and bring a change in critical sectors of health and education.

The working of government departments including PIA, Steel Mills, Railways and energy companies would be improved while lawlessness, unemployment and corruption will be reduced.

Karim Aziz Malik said that tax amnesty scheme is a good move under which assets over a trillion rupees have been declared. Many businessmen could not get the benefit of the scheme due to elections, therefore, it should be extended for another month.

He said that government can also consider introducing another scheme following the Indonesian model which resulted in the declaration of assets worth 366 billion dollars.

An extended or new scheme will attract funds as incoming Prime Minister Imran Khan enjoys the trust of the masses and expatriates.

The business leader said that Pakistanis have stashed over 250 billion dollars in foreign banks and Pakistan will not need any loan if its 30^th part is attracted.