Govt to resolve traders issues on prority baisis: Sarwar

Governor Punjab Chaudhry Muhammad Sarwar has said that trade & industry related issues would be taken up with the federal government soon. He was talking to the Lahore Chamber of Commerce and Industry (LCCI) Senior Vice President Mian Nauman Kabir and Vice President Syed Mahmood Ghaznavi here at the Governor's House.

Mian Nauman Kabir and Syed Mahmood Ghaznavi apprised the Gover Punjab of the issues being faced by the business community include energy crisis, law & order situation, complicated taxation system, tax reforms, SRO 608 and petrol crisis etc.

The Governor Punjab agreed with the LCCI Senior Vice President Mian Nauman Kabir and Vice Present Syed Mahmood Ghaznavi that tax procedures should be simplified, untaxed sectors be taxed while there must be a comprehensive strategy to deal with under-invoicing, smuggling and high rate of taxes.

He also agreed to patronize the LCCI OIC Ambassadors Conference 2015 and assured to extend every possible help for the cause of this mega event. Chaudhry Muhammad Sarwar said the Punjab government believes that the OIC Ambassadors Conference would give new boost to business among Muslim countries that have a huge potential in various sectors of the economy.

On the occasion, the LCCI Senior Vice President Mian Nauman Kabir and Vice President Syed Mahmood Ghaznavi gave a detailed briefing to the Governor Punjab on the OIC Ambassadors Conference.

They said that the Lahore Chamber of Commerce and Industry was not only putting in its relentless efforts for the promotion of regional trade but was also working out a strategy to promote trade among all 57 Muslim countries.

Talking about taxation issues, Mian Nauman Kabir and Syed Mahmood Ghaznavi said that there must be frequent meetings between the LCCI and the FBR authorities as any further delay in resolution of these issues would hit hard the government's plans to revive economic activities.

Syed Mahmoog Ghaznavi stressed the need to bring down the markup rate to 7 percent to as high markup rate was making the Pakistani products uncompetitive. He said that government should initiate tax reforms as complicated taxation system was creating unrest amongst the business community.

The Lahore Chamber of Commerce and Industry office-beares also urged the Governor Punjab to play their role for bringing the untaxed sectors including the Agriculture sector into the tax net as the size of gray economy was ballooning with every passing day. Meanshile, Governor Punjab also accepted the invitation to visit the Lahore Chamber of Commerce & Industry. Governor Punjab assured the LCCI office-bearers that soon he will visit the Lahore Chamber of Commerce & industry.