Bureu Report
KARACHI: Chairman Businessmen Panel Chairman of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), Mian Anjum Nisar has said that to push the GDP growth to 6 percent in next two years, the budget makers have to reduce tax rates to widen the tax base and curtail parallel economy, also providing a competitive edge to Pakistan’s products in global markets.
Addressing a meeting held here to discuss the upcoming budget 2021-22, he said that the annual budget is the best opportunity to address all major issues of the country.
Mian Anjum Nisar said that the FPCCI has presented comprehensive proposals for the federal budget 2021-22 with main focus on creating jobs by strengthening industrialization in the country, broadening of tax base through lowering tax rate and introducing liberal policies to attract foreign investment. He appreciated the FPCCI and BMP’s other leadership for compiling the sector-specific budget proposals in a balanced manner.
He said that during the last three decades, it was only twice when Pakistan’s economy grew by more than 5 percent -first in 2003-2006 and second during 2016-2018. He said that realizing the full potential of information technology can increase productivity for every industry. He observed that the digital finance potential of Pakistan could be $36 billion in next four years, giving a 7 percent boost to the GDP and generating 4 million new jobs.
The FPCCI’s BMP Chairman said that the real fact is a lack of realization that the world business patterns have changed and Pakistan has made no efforts to adjust to those realities.
