Shaikhani Lauds Introduction Of Blue Passport For Businessmen

HYDERABAD, (UrduPoint / Pakistan Point News - 4th Apr, 2024) The President Hyderabad Chamber of Small Traders & Small Industry, lauded the Prime Minister of Pakistan, Mian Muhammad Shahbaz Sharif, for introducing the blue passport and honorary card.

He emphasized that this government initiative will invigorate traders and industrialists, while also commending the decision to confer honorary ambassador status upon top performers in each tax submission category.

He highlighted the significant challenge Pakistan faces in tax collection and in integrating new businessmen and industrialists into the tax system. However, he expressed optimism that the government's recent measures reflect a prioritization of the business community's role in bolstering tax revenue.

Shaikhani emphasized the necessity for the government to initiate a comprehensive review of electricity, gas and petrol prices in light of its efforts to drive industrial advancement within the nation.

He underscored the predicament of Pakistan's economy, entangled in a web of debts and reliant on acquiring new loans to service existing liabilities. This financial strain has curtailed the government's autonomy in implementing policies conducive to fostering an industrial revolution.

HCSTSI President emphasized that the provision of essential utilities such as electricity and gas is paramount for industrialists to establish and sustain their enterprises in Pakistan. Without these basic amenities, both new and existing industries would struggle to operate efficiently. Consequently, stagnation in industrial activity would hinder the growth of exports, perpetuating the imbalance between exports and imports.