PM Imran Khan Can Pull Pakistan Out Of Economic Mire

LAHORE, (UrduPoint / Pakistan Point News - 20th Aug, 2018 ) :The business community on Sunday welcomed Prime Minister Imran Khan's maiden speech to the nation and reposed its full confidence in his leadership abilities to pull the country out of the prevailing economic and other challenges.

Sharing their viewpoint on the PM's speech with APP here, the office-bearers of the Lahore Chamber of Commerce and Industry (LCCI) and other trade bodies, including Mall Road Traders Association, Hall Road Traders, Ferozpur Road, Liberty Market, Shah Alam Market and Anarkali Market said Prime Minister Imran Khan highlighted priorities of his government, comprehensive strategies and polices to resolve the challenges pertaining to economy, investment, trade, export and institutional reforms.

Most of the trade leaders said the prime minister had spoken of their heart by announcing a mega reform initiative in the Federal board of Revenue which was need of the hour to streamline the taxation system.

They were of the view that people's confidence in the government institutions would definitely enhance, once a taxpayers-friendly mechanism was put in place.

LCCI President Tahir Javaid Malik said the business and industrialists community had long been facing a number of problems pertaining to FBR, Customs and other tax departments due to red-tapism, corruption and unilateral policies, which were formulated without taking them aboard.

He mentioned that tax refund claims worth billions of rupees of the business community especially the exporters had been stuck up with the FBR, which resulted into severe liquidity crunch for them to enhance their businesses and complete their foreign buyers orders timely.

He said it was a good omen for the country's economy as PM Imran Khan had expressed the resolve to ensure viable business environment to attract local and foreign investment, adding that it would obviously jack-up Pakistan's economy.

He said over the last many years, the investment scenario was very grim due to a lot of paperwork and other compulsions and hoped the prime minister would take prompt action to simplify the documentation process for investments.

The trade leaders hoped that the new government would implement its economic agenda in true sense of words and also construct new dams and power houses, besides taking effective measures for maintaining law and order, which were prerequisites to investment.