LCCI re­it­er­ates it de­mand to ini­ti­ate di­a­logues on RGST

The Pak Banker - - 2 National -

LA­HORE: The La­hore Cham­ber of Com­merce and In­dus­try Mon­day, yet again, urged the govern­ment to ini­ti­ate di­a­logue on Re­formed Gen­eral Sales Tax as its de­fer­ment, though quite in line with LCCI de­mands and a step in de­sired di­rec­tion, would not serve the very pur­pose of turn­ing the econ­omy around through an en­abling busi­ness at­mos­phere.

In a state­ment is­sued here on Mon­day, the LCCI Pres­i­dent Shahzad Ali Ma­lik took a very strong ex­cep­tion to the govern­ment for ob­serv­ing a com­plete si­lence over LCCI de­mand for for­ma­tion of com­mit­tees for con­sul­ta­tion over the is­sue of Re­formed Gen­eral Sales Tax as was raised by the LCCI at a meet­ing held in Is­lam­abad on De­cem­ber 1. "The LCCI was the only cham­ber of com­merce in the coun­try that had called for de­fer­ment of the im­ple­men­ta­tion of RGST and de­manded the for­ma­tion of com­mit­tees for de­lib­er­a­tions on the sub­ject. It's very good that one part of LCCI de­mand has been ac­cepted by the govern­ment and de­ferred a de­ci­sion on this very con­tro­ver­sial is­sue of the coun­try's his­tory but at the same time it was very un­for­tu­nate that govern­ment has adopted the pol­icy of wait and see on the is­sue of for­ma­tion of com­mit­tees."

"It would have been bet­ter if the Stand­ing Com­mit­tee on Fi­nance had ac­cepted the LCCI stance fully vis a vis for­ma­tion of com­mit­tees of the stake­hold­ers from trade and in­dus­try for the dis­cus­sion on the is­sue of RGST with FBR."

The LCCI Pres­i­dent Shahzad Ali Ma­lik said that the La­hore Cham­ber of Com­merce and In­dus­try from the very be­gin­ning hold the stance that the im­po­si­tion of RGST with­out tak­ing all the stake­hold­ers on­board will not be fruit­ful. It had re­quested that a meet­ing be­tween the LCCI, other stake­hold­ers and the FBR was a must with­out which RGST would not be ac­cept­able. The same stance was re­peated at Na­tional Assem­bly Stand­ing Com­mit­tee on Fi­nance on De­cem­ber 1 in Is­lam­abad in the pres­ence of rep­re­sen­ta­tives of all the Cham­bers of Com­merce and other trade bod­ies.

The LCCI Pres­i­dent said that the La­hore Cham­ber of Com­merce and In­dus­try re­serves the right to op­pose the im­ple­men­ta­tion of RGST tooth and nail if a process on con­sul­ta­tion with the stake­hold­ers was not ini­ti­ated im­me­di­ately and any de­ci­sion was taken with­out the ap­proval of the busi­ness com­mu­nity. Shahzad Ali Ma­lik said that there was no sec­ond opin­ion about it that the Re­formed Gen­eral Sales Tax will be highly in­fla­tion­ary and de­stroy the in­dus­trial base of the coun­try.

RAWALPINDI: Pak­istan Peo­ple’s Party lead­ers rais­ing their hands to show sol­i­dar­ity dur­ing a cer­e­mony on the eve of the death an­niver­sary of for­mer Prime Min­is­ter Be­nazir Bhutto. -On­line

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