FPCCI slams govt’s ‘coercive actions’ against industrialists
HYDERABAD: Leaders of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) have said that power tariffs will have to be brought at a par with other countries of the region to ensure economic growth and stability. They also criticised coercive measures being taken by the FBR against businessmen and industrialists. FPCCI patron in chief S.M. Tanvir (of the United Business Group) and…
Hyderabad's business leaders have slammed the government's "coercive actions" against industrialists, while urging the power tariffs to be aligned with those in other regional countries. FPCCI patron S.M. Tanvir and President Atif Ikram criticized the Federal Board of Revenue (FBR) for intimidating businessmen and industrialists.
Tanvir stressed that independent power producers (IPPs) have weakened Pakistan's future, and the huge disparity in electricity costs prevents competitiveness in the market. He called for a drastic reduction in power tariffs to seven cents, a figure observed in neighboring countries. Tanvir further expressed concerns over ongoing conflicts, as they hinder inflation control, and warned against the FBR's intrusive measures against factories.
He also advocated for establishing more special economic zones, similar to those in Dhabeji and Khairpur. Atif Ikram assured the business community of FPCCI's support in addressing their concerns. Masood Pervez, the outgoing president of the Hyderabad Chamber of Small Traders and Small Industry, praised FPCCI's initiatives and called for simplification of the taxation system for small traders and businessmen.
The outgoing president, Saleem Umer Memon, highlighted the need for better infrastructure and industrial facilities in Hyderabad.
Written by urgent.news from Dawn - Pakistan's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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