- President called upon the chambers of commerce and industry to motivate and convince their members to fully document their businesses for bringing transparency
- He said that non-documentation and lack of transparency in the business processes and resultant low tax collection compelled the government to resort to indirect taxation
- President urged the business community to voluntarily pay due taxes which, he said, would provide liquidity to the government for improving roads, utilities, and other services
ISLAMABAD- President Dr. Arif Alvi has called upon the chambers of commerce and industry to motivate and convince their members to fully document their businesses for bringing transparency in the business inputs and outputs which would lead to the levying of just and fair taxes.
This, he said, would increase the tax base and tax collection, minimize incidents of corruption and corrupt practices, and would eventually lead to reduced taxation on businesses. He said that non-documentation and lack of transparency in the business processes and resultant low tax collection compelled the government to resort to indirect taxation.
He expressed these views while addressing the Achievement Awards Ceremony organized by the Sargodha Chamber of Commerce and Industry (SCCI), at Aiwan-e-Sadr.
The President said that Pakistan was the fifth largest country in terms of population and, therefore, it should also be the fifth most important country in terms of socio-economic growth.
He said that our youth bulge should be provided with high-quality skills, especially in the IT sector, our businesses need to create close linkages with the research and development institutions and Universities to bring qualitative and quantitative improvement into their goods and services and expand their reach in the existing export markets and exploring new export markets.
The President urged the business community to voluntarily pay due taxes which, he said, would provide liquidity to the government for improving roads, utilities, and other services for the business community.
The President said that the Small and Medium Scale industries were the backbone of the country’s economy and that the government should further improve the policy, licensing, and regulatory regime.
The President said that industries and businesses played a key role in the progress and development of the country and the prosperity of its people. He appreciated the industrialists and businessmen of Pakistan for achieving the highest ever export growth.
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President SCCI, Shoaib Ahmed Basra, thanked the President for his constant patronage and support to the business community.
