KATI Applauds Finance Minister's Commitment To Economic Policy For Sustainable Growth

Korangi Association of Trade and Industry (KATI), Tuesday, lauded endeavor of Federal Finance Minster Muhammad Aurangzeb for framing a 3-year economic policy and reaffirmed its commitment to support government initiatives aimed at sustainable growth

KARACHI, (UrduPoint / Pakistan Point News - 2nd Apr, 2024) Korangi Association of Trade and Industry (KATI), Tuesday, lauded endeavor of Federal Finance Minster Muhammad Aurangzeb for framing a 3-year economic policy and reaffirmed its commitment to support government initiatives aimed at sustainable growth.

President KATI, Johar Qandhari, in a statement issued here, said that finance minister's announcement regarding economic policy has been warmly welcomed by the business community, particularly KATI, which has long advocated for devising a comprehensive economic strategy to attract long-term investment in the country.

Qandhari emphasized the importance of implementing reforms within the Federal board of Revenue (FBR), expanding the tax net and fostering industrial growth to propel Pakistan towards fast track development.

He stressed the need of reducing cost of production to enhance the competitiveness of Pakistani products in the global market and proposed to take measures for bringing tax evaders into the tax net so that burden could be alleviated on existing taxpayers.

The KATI president referring to high interest rates underscored the need of reducing policy rate to stimulate economic growth and investment.

Qandhari expressed hope that the finance ministry would coordinate with all stakeholders in process of formulating a budget that addresses industry concerns and sets Pakistan on the path to economic recovery and development.

He also reaffirmed KATI's commitment to support government initiatives aimed at fostering a conducive business environment and driving sustainable growth.