ISLAMABAD, Jan 24 (APP): All Pakistan Chambers Presidents’ Conference (APCPC) has urged government to take traders community on board on the 4th part of China Pakistan Economic Corridor (CPEC) which is ‘Industrial Zones Development’.
The two day 9th APCPC moot which concluded in Bhurban on Tuesday also adopted joint declaration with an aim to promote business and trade activities throughout the country.
The APCPC, hosted by the Rawalpindi Chamber of Commerce and Industry (RCCI), adopted five points agenda including focus on CPEC, dropping the ratio of Sales Tax to single digit, reducing public debt, increasing tax net and tax base and poverty reduction.
The two day conference was attended by senior Vice President Rashid Waien, Vice President Asim Malik, Group Leader Suhail Altaf, S.M. Naseem, former presidents, members of the executive committee, civil society and a large of traders and industrialists.
Addressing the concluding session President RCCI Raja Amer Iqbal said that the trader’s community recognized CPEC as a game changer.
“It is urged to the Government that information of 4th part of CPEC which is “Industrial Zones Development” shall be shared immediately with all the Chambers of Commerce and Industry of Pakistan”, said RCCI President.
He informed the gathering that a committee has been established to hold negotiations with the government on CPEC Special Industrial Zones (SIZ), comprising one member each from all chambers across Pakistan while RCCI president would be its chairman.
He was of the view that the government should negotiate with the Chinese government to evolve a policy to have joint ventures between China and Pakistan for long lasting win-win cooperation and urged the government through the Memorandum of Undertakings (MOUs) with China, Labor intensive industry shall be relocated in Pakistan to boast the local employment.
Announcing the declaration about Income and Sales Taxes, the RCCI president pointed that the tax rate should be rationalized and tax base should be widening rather the government focus on tax to the Gross Domestic Product (GDP) to tax ratio.
He demanded that sales tax rate should be reduced to a single digit bringing it at par with some of its neighboring countries.
Raja Amer stated that the package negotiated for the Chinese industrialist shall be shared and at par packages shall be extended to the Pakistani Industrialist as well.
APP/Ahsan/ VNS Islamabad
