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Pakistan and Industrial and Traders Associations Front Blames Federal Board of Revenue’s anti-business policies for sharp decline in economic activities

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by March 14, 2013 General

Lahore, March 14, 2013 (PPI-OT): Pakistan and Industrial and Traders Associations Front (PIAF) has blamed the Federal Board of Revenue (FBR) anti-business policies for sharp decline in economic activities.

In a statement issued here, the PIAF Chairman, Malik Tahir Javaid, said that a considerable decline of $ 1.5 billion in the exports in comparison with February 2012 is very alarming and the government should stop the Federal Board of Revenue from announcing anti-business policies.

The PIAF Chairman feared further widening of trade deficit, if the FBR continues to issue various ant-industry SROs without due consultation of the stakeholders.

He said that deteriorating law and order situation in parts of the country and an acute shortage of gas and electricity had already affected the investment scenario badly and there is a dire need for incentives for the trade and industry.

He said that despite repeated demands of the business community, the FBR has yet not withdrawn the SROs it has issued in the recent past. He said that a few days back, the Finance Minister, during a meeting with the PIAF delegation promised to get SRO 140 (I) 2013 withdrawn but the FBR officials were showing reluctance to take the SRO back. He said that despite assurance by the Finance Minister SRO 154 was not being withdrawn and forcing value added textile industry to observe strike. He said that there was same circumstances in case of SRO 98.

Malik Tahir Javed said that national elections were well on the way and country could not afford any sort of protest or strike. Finance Ministry and Federal Board of Revenue officials should feel the sensitivity of the situation and withdraw all disputed SRO immediately.

PIAF Chairman said that economic situation was already gloomy and a large number of industrial units have shifted their operations to the other countries like Bangladesh and Sri Lanka etc.

He demanded of the Finance Ministry and Federal Board of Revenue to withdraw all SROs including SRO 154, SRO 140 and SRO 98 to make atmosphere business friendly, to strengthen the export-oriented industries and to create sufficient job opportunities.

For more information, Contact:
Pakistan Industrial and Traders Associations Front
110/s Kot Lakhpat Industrial Estate
Lahore, Pakistan
Phone: (92) 42 5123522
Fax: (92) 42 5123522
Email: Info@piaf.pk

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