ISLAMABAD: President Dr Arif Alvi has called upon chambers of commerce and industry to motivate and convince their members to fully document their businesses for bringing transparency in business inputs and outputs which would lead to levying of just and fair taxes. This would increase tax base and tax collection, minimise incidents of corruption and corrupt practices and would eventually lead to reduced taxation on businesses.

He said that non-documentation and lack of transparency in business processes and resultant low tax collection compelled government to resort to indirect taxation which equally hurt poor and rich and therefore direct taxation needed to be enhanced with help of business community.

  Addressing Achievement Awards Ceremony organised by Sargodha Chamber of Commerce and Industry (SCCI) at Aiwan-e-Sadr President SCCI Chaudhary Shoaib Ahmed Basra, also spoke. President said that Pakistan was fifth largest country in terms of population and, therefore, it should also be fifth most important country in terms of socio-economic growth. He said that it was possible, provided businesses encourage their female family members to enter into trade and industry on key posts to lead way for better participation of women.

He said “Our youth bulge should be provided with high-quality skills, especially in IT sector, our businesses need to create close linkages with research and development institutions and universities for bringing qualitative and quantitative improvement into their goods and services and expanding their reach in existing export markets and exploring new export markets. President urged business community to voluntarily pay due taxes which, he said, would provide liquidity to government for improving roads, utilities and other services for business community.

He also urged business community and industrialists to keep social welfare at forefront of their business policies and to play their role in uplifting socio-economic conditions of people of their respective areas. President said that Small and Medium Scale industries were backbone of country’s economy and government should further improve policy, licensing and regulatory regime and levy of just and fair taxation in close coordination and consultation with all stakeholders to further improve ease of doing business to help promote this vital sector of country on a fast-track basis. Chaudhary Shoaib Ahmed Basra, thanked President for his constant patronage and support to business community, especially SCCI and for encouraging top performing businesses of country through achievement awards.

Published in The Daily National Courier, September, 14 2022

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