APCPC Demands Pre Budget Consultation With Chambers

The two-day 16th All Pakistan Chambers Presidents Conference (APCPC) concluded with a joint statement demanding pre budget consultation with chambers of commerce and industry

RAWALPINDI, (UrduPoint / Pakistan Point News - 16th May, 2024) The two-day 16th All Pakistan Chambers Presidents Conference (APCPC) concluded with a joint statement demanding pre budget consultation with chambers of commerce and industry.

The joint declaration stated that the government should involve the Chambers in the consultation process of the fiscal budget 2024-25.

The term of presidents of chambers should be one year instead of two years. FBR should set targets to increase the tax net instead of the taxes. The declaration finds 22% interest rate is higher that creates obstacles to economic growth and industrialization, it demands it's reduced rate.

The conference was organized under the auspices of Rawalpindi Chamber of Commerce and Industry (RCCI).The joint declaration was presented in a press conference by the participants led by RCCI's president, Saqib Rafique, here at the chamber on Thursday.

RCCI President Saqib Rafiq, while addressing the press conference said that businessmen and taxpayers should be respected, all income regardless of source should be taxable under the uniform framework.

There is a need to increase trade and better relations with neighboring countries, and regional trade should be promoted, he said.

The joint declaration demands enabling one window operation to remove barriers to the business community. It also urged all political parties to sign Charter of Economy for economic stability in the country. Green energy should be promoted as an alternative energy to reduce business costs, says the declaration.

The chamber presidents and representatives of the four provinces of Kashmir and Gilgit-Baltistan participated in the conference.

The conference discussed the annual budget, depreciation of the rupee, increase in production cost, high prices of petroleum products, electricity and gas, promoting solar installation, Federal and provincial taxes. Trader-Friendly Scheme: Increase in tax net and privatization of government institutions were also discussed.