Korangi Association of Trade and Industry (KATI) President Saleem-uz-Zaman has welcomed the orders issued by Federal Minister for Finance Shaukat Tareen to the Federal Board of Revenue (FBR) in which he directed the FBR to stop harassing the business community, all notices issued so far should be withdrawn and cases pending in the court should be withdrawn with mutual consultation.
He said the move would restore the business community’s confidence in the government. Expressing gratitude to the Finance Minister, President KATI said that FBR officials were causing unwarranted harassment to the business community and causing damage to the economy. The business community has breathed a sigh of relief following the Finance Minister’s clear orders.
Saleem-uz-Zaman said that in the past, most of the industrialists and investors have left the country due to FBR harassment and have migrated to other countries including the Middle East and Vietnam.
He said that we are grateful for the orders of the Finance Minister but these orders may not just remains in statements only, we hope that the orders of the Finance Minister shall be practically implemented.
President KATI said that the government has finally realized that Profit making is not a sin. The Finance Minister has confirmed that the government wants industrialists and investors to earn profit. He said that Shaukat Tareen himself belongs to the business community and that is why he understands the problems of the business community.
Saleem-uz-Zaman appealed to the Finance Minister to take personal interest in resolving tax issues and expedite steps to facilitate in ease of doing business. He said that if the government provides facilities and establish one window operation, then foreign investors are interested to take advantage of the numerous investment opportunities in Pakistan.
Saleem-uz-Zaman said investors from the United States, Europe and African countries had expressed interest in several KATI meetings. He said that if the government provides facilities, it is possible to increase foreign direct investment and industrialization in Pakistan.