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Task force to be formed to resolve business community’s issues: Chairman

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January 29, 2022 (MLN): Chairman Finance and Revenue Committee Faiz Ullah Kamoka during his visit to KCCI informed that the Prime Minister has agreed to form a task force that will be a mediator between all the departments and the business community of Karachi so that the problems being faced could be promptly resolved, said a press release issued on Saturday.

“I have submitted TORs for the proposed task force whose chairman and members will be regularly holding meetings with Chamber, Associations and trade bodies of Karachi so that all their issues pertaining to FBR, SSGC, KE and others could be quickly resolved,” he added.

The task force will also be holding meetings with other chambers and trade bodies all over the country as well so that an enabling and business-friendly environment could be created across the board. 

In response to concerns expressed over dilapidated infrastructure and other issues being faced by the business community of Karachi, Faiz Ullah Kamoka stated that out of the box solutions were required for dealing with Karachi’s issues so that this city and also the country could be saved from further plunging into more crises.

He further advised the Karachi Chamber to submit its recommendations for Federal Budget to Finance Committee at the earliest as January, February and March were the months when budget recommendations were being assessed by the Finance Committee and forwarded for inclusion in the Finance Bill. “We can also arrange an exclusive meeting between Finance Minister, KCCI and FBR so that you could get an opportunity to highlight all your suggestions for the next budget”, he added.

Speaking on the occasion, MNA Aftab Siddique said that they will try to hold a workshop before the budget in which all the departments, Finance Committee Members and KCCI representatives will be invited so that the Chamber’s suggestions could be extensively discussed and taken into consideration for incorporation in the Federal Budget. 

He said that the government was serious about resolving the issues being faced by Karachi as in addition to routine allocations, additional grants were also being given for improving the infrastructure of Karachi. “Work on K-IV project was going on in full swing which will be completed by October 2023 whereas the funding for Karachi Circular Railway project has also been arranged which would help in easing the traffic jam problem”, he added. 

Chairman BMG Zubair Motiwala, in his remarks, pointed out that the industries in all industrial zones of Karachi have been suffering badly due to low gas pressure or unavailability of gas for the last 68 consecutive days and they have constantly been raising this serious issue at all available platforms and issuing appeals in the media as well but unfortunately, no response has been received so far from people at the helm of the affairs. 

He also criticized the State Bank of Pakistan (SBP) which now requires exporters to bring proceeds back to the country within 120 days instead of 180 days this decision has been imposed retrospectively but it was totally unworkable. “It was highly unfair to take such decisions affecting the exports without taking the stakeholders on board. Is State Bank following the agenda to reduce the export?”, he asked.

He also pointed out that Export Processing Zones (EPZs) were treated as a foreign entity or a different country and the currency used at EPZs was not Pakistani currency hence it was unjustifiable to impose Sales Tax on EPZs.

He said that FBR has once again been allowed to freeze the bank accounts without serving any show-cause notices which happens nowhere around the world as it was purely against the international laws pertaining to privacy and code of conduct.

President KCCI Muhammad Idrees said that despite so many odds particularly the dilapidated infrastructure of Karachi, the business and industrial community of Karachi remains resilient and tries its best to grow their businesses which can be gauged from the fact that the country’s exports grew by 54 percent of which 26 percent growth was contributed by the Karachi-based exporters. 

Keeping in view the unmatched contribution made by Karachi, Muhammad Idrees demanded from the federal government to officially declare Karachi as the Industrial Capital of Pakistan. 

Press Release

Posted on: 2022-01-29T18:55:17+05:00

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