HCCI President emphasizes govt to consult stakeholders for tax recovery targets

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The President Hyderabad Chamber of Commerce and Industry Adeel Siddiqui has emphasized upon the federal government to provide incentives for promotion of trade and industry and consult the stakeholders for tax recovery targets.

The super tax which imposed by the government upon 13 industries could create hurdles in bringing foreign investment in the country which is the dire need to strengthen the economy of the country, he said.

Addressing the HCCI members here on Monday, he said that tax recovery target of Rs. 498 billion set by the government for the financial year could be achieved with effective policy making and taking the stakeholders into confidence otherwise the decision of imposing the super tax on 13 industries could increase the cost of productions.

Besides increasing in inflation rate, he said the imposition of super tax could also create hurdle in achieving five percent GDP growth rate set by the government for the financial year 2022-2023. —APP

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