FPCCI hails decision of Prime Minister for one-time tax amnesty scheme on offshore assets
Karachi, January 18, 2018 (PPI-OT):Mr. Ghazanfar Bilour President FPCCI welcomed the Prime Minister’s decision of one-time tax amnesty scheme to bring back the offshore wealth of Pakistanis deposited with foreign banks. They have invested in Middle East, Far Eastern countries, Western Europe and off shore companies, while net inflows of investment are declining in Pakistan.
Several countries have introduced One-time Amnesty Scheme for acceleration in the economic growth through production and utilization of hidden liquid assets in the main stream of the economy. He also stated that the inflow of FDI is directly associated with the trend of investment by local investors that gives confidence to the foreign investors.
Mr. Ghazanfar Bilour also proposed that the objective of this One-time Amnesty Scheme should not be to provide a shelter to illegal practices but to bring the isolated liquid assets into main stream of economy for its utilization to provide funds for the growth of national economy, development of basic business infrastructure and to provide employment opportunities at large scale.
For more information, contact:
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Tel: +92-21-35873691, 93-94