President Multan Chamber of Small Traders and Industry, Hafiz Umair Saeed, has commended the government’s efforts to stabilize the economy, particularly through recent agreements with Saudi Arabia and Qatar.
In a statement, Umair Saeed maintained that these international deals provide crucial support, it is equally important for the government to foster a favorable business environment for local investors and business communities.
He urged authorities to simplify procedures to improve ease of doing business, which would enable local businesses to contribute effectively to economic progress alongside the government.
He highlighted the pressing need for the government to address the challenges of high taxes and high-interest rates, suggesting that bringing the interest rate to single digits would significantly aid the local business sector.
“Our trade sector is overwhelmed by tax-related issues,” he stated, criticizing the approach of the government and the Federal Board of Revenue (FBR) in placing additional burdens on existing taxpayers instead of expanding the tax net.
He concluded that the combination of affordable electricity, gas, tax relief, and lower interest rates would boost revenue and enhance the competitiveness of locally produced goods in international markets.—APP
