The GHQ’s commitment to supporting economic
activity through the SIFC was also acknowledged
with calling for reduced interest rates
Special Correspondent
Karachi: Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), President of ECO-CCI, and Vice President of CACCI, extended heartfelt thanks to Field Marshal Syed Asim Munir, NI (M), for meeting with the trade and industry delegation led by Dr. Gohar Ejaz, HI, SI (Civil).
He praised Field Marshal Munir’s patience, engagement, and commitment to resolving economic challenges faced by businesses and the people of Pakistan.
During the meeting, the delegation lauded the government and the Special Investment Facilitation Council (SIFC) for bringing stability to the economy and presented key issues confronting the industrial sector. Concerns were particularly raised about the recent expansion of the Federal Board of Revenue’s (FBR) powers under Sections 37A and 37B of the Sales Tax Act 1990 related to arrest and detention.
FPCCI welcomed Field Marshal Munir’s immediate directive to suspend the new provisions and initiate meaningful dialogue between the FBR and stakeholders.
The GHQ’s commitment to supporting economic activity through the SIFC was also acknowledged, with the business community calling for reduced interest rates in line with inflation, and expressing concern over the delayed notification of Export Facilitation Scheme amendments, especially the inclusion of cotton and yarn under 18% sales tax.
FPCCI also expressed appreciation for Field Marshal Munir’s attention to high electricity costs and his efforts to secure competitive power tariffs, especially for industrial and export sectors.
Atif Ikram Sheikh reaffirmed the business community’s resolve to work together in partnership with national leadership to restore investor confidence, ensure inclusive growth, and secure long-term economic prosperity for Pakistan.
