FPCCI for measures to boost remittances

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Thursday stressed the need of comprehensive measures to enhance remittances to overcome economic challenges. "More than six million Pakistanis are working abroad sending over $19 billion yearly which helps government keep trade gap in limits," Abdul Rauf Alam, President FPCCI said.

Rauf Alam urged for improving functions of departments dealing with export of manpower and those responsible for the welfare of expatri- ates. The FPCCI president said that law enforcing agencies should be able to distinguish employment promoters from human smugglers and should not harass those who are responsible to get foreign exchange for the country and reduce unemployment.

Growth in remittances has always remained more than growth in the exports despite best efforts of the government and private sector to boost the later, he observed. He also demanded of the government to establish training institutes as country is failing to fulfill the demand of skilled labour at home and overseas otherwise the issue of economic stability will resurface soon. The economic growth projected by the international institution will be significantly lower than the rate required for absorbing the youth seeking jobs which can be resolved through tax and structural reforms and investment.

Meanwhile, Abdul Rauf Alam, President and Khalid Tawab, Sr. Vice President and Vice Presidents of FPCCI including Mian Rehman Aziz, Faisal Jamal Dashti, Zulfiqar Ali Sheikh, Zafar Bakhtawri, Arshad Farooq, Syed Muhammad Asim, Hanif Gohar, Juma Khan and Sajida Zulfiqar strongly condemned the statement published in newspapers alleging the TDAP and FPCCI for not being making serious efforts in the matter of refunds to business community and astonishingly expressed that elements behind their statement should know and realize the fact that the matter of refunds of sales tax and other rebates pertains to Ministry of Finance and FBR and it is not coming in the domain of Ministry of Commerce and TDAP.

The office bearers of FPCCI said that the both private and public sector know the dignity, devotion and credibility of S. M. Muneer who has been serving the nation for the last many years particularly the business com- munity in resolving their issues with the government. They said that to resolve the matter of refunds of business community, he took up the matter with the Ministry of Finance and FBR at every level. They further said that S. M. Muneer himself is a businessman and knows the importance of availability of working capital for a business entity which has been stuck up with the government.

While declaring the said news as ridiculous and they said that in the global recession regime the exports of globally leading exporting countries declined and the whole world is suffering with it.