Business

Business community lauds PTI plan for economic turn around

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) here on Saturday lauded the Pakistan Tahreek-i-Insaaf (PTI) plan for decreasing taxes on energy supply facilities, agriculture sector and saving state-owned companies from political interference.
The move will make businesses more competitive with regional countries resulting in enhanced exports and employment opportunities, said senior vice president of FPCCI, Sohail Hussain.
The plan of PTI’s economic managers to insulate state-owned enterprises from political interference will help Pakistan save billions of dollars, he added.
He said that the bleeding state-owned corporations continue to inflict losses to the tune of trillions of rupees which add to the budget deficit.
Malik Sohail said that strong incentives will help recover the agricultural sector which must include reduced power tariff for tube wells, adding that reduction in power tariff will reduce the cost of doing business for farmers while will provide relief to masses.
It will also help exporters to compete with the rivals in the international market.
Fertiliser prices should also be reduced to boost agricultural production, he added.
The new government has decided to bring more transparency to more than 60 billion dollar Belt and Road infrastructure projects in Pakistan which is a welcome move, he observed.
It has also promised transformation of governance, strengthening the federation, revitalizing economic growth, revolutionizing social services, ensuring the country’s national security and uplift of agriculture sector during the first 100 days in power.
He urged the incoming government to announce a complete set of reforms without any delay to boost economy and confidence of investors.