By Asad Cheema
RAWALPINDI: The Rawalpindi Chamber of Commerce and Industry (RCCI) has urged government to extend the incentive packages given to construction sector to other sectors as well. It was also suggested that sectors such as healthcare, education and gems and jewellery be formalized.
Addressing a video conference on tax laws and incentives given to the construction sector at chamber house on Thursday, President RCCI Saboor Malik said that country’s economy is going through a difficult phase. There is a need to extend the incentives to other sectors as well to attract foreign direct investment and enhance trade activities at the national level. Similar to the announced construction package, no source of income should be asked for a certain time period for any investments made in any industry to boost the industrialisation in the country.
He urged the government to lower the sales tax rate amidst the COVID-19 lock down in the country to provide stimulus to the falling economy while allowing the business activities with SOPs. He said that the Federal Board of Revenue should revise its revenue targets considering low economic activity and prioritize facilitating the businessmen in these times of crisis.
Senator Mian Atiq while addressing the meeting lauded RCCI efforts for organizing the video conference for members to get the latest information on government’s recent package for the construction sector and other tax laws. Former President Dr. Shimail Daud recommended that the social sectors need urgent attention from the government and must be given industry status. Senior Vice President Nosherwan Khalil Khan, Vice President Muhammad Hamza Saroosh, and a large number of members attended the meeting via Zoom.
