LAHORE: The Lahore Chamber of Commerce and Industry (LCCI’s) opposition group leader Mohammad Amjad Chaudhry has accused the LCCI administration of selling performance awards and gold medals to the companies and institutions after charging them Rs 300,000 to 700,000 million.
He said there were no set standards for performance awards and the only objective was allegedly to raise millions of rupees to run their advertisement campaign.
“Performance awards should be given only on the basis of merit to the right traders and industrialists from Lahore, who have demonstrated outstanding performance in their fields,” he said.
The opposition leader said if these companies were on merit, their amount should be returned immediately. Amjid said it was their manifesto that all performance should be given on merit rather than making it a source of minting money from the business and industrial community.
He said it was a sheer violation of the trade organisation rules. He also offered his groups’ support in recovery of the money to all those organisations that achieved awards on merit.
On May 11, President Mamnoon Hussain gave away LCCI 9th Achievement Awards to business and industry related organisations in the presence of federal ministers, top government officials, LCCI President Sheikh Muhammad Arshad, Senior Vice President Almas Hyder, Vice President Nasir Saeed, former office-bearers, Executive Committee members and renowned businessmen.
Giving details, he said Hamza Munir Bhatti received Son of Lahore Award, Mian Nadeem Nisar, Dr Sohail, Javed Afridi, Tanvir Ahmad, Daniyal Jawed Qureshi, Muhammad Irfan Butt, Dawar Rashid, Shabbir Bhatti, Qudrat Ullah, Mian Javed Ali and Hannan Asif received President Businessman of the Year Gold Medal, Rifatun Nisa and Nabila Intisar received Woman Entrepreneur Achievement Award 2016, and Salman Basit, Khawaja Shahid Rashid, Amjad Hussain, Mian Abid, Yasir Anwar, Salman Hanif Jewellers and Shahid Nazir received achievement awards.
LCCI President Sheikh Muhammad Arshad, Senior Vice President Almas Hyder, Nasir Saeed, former presidents Ijaz A Mumtaz, Sohail Lashari, Irfan Qaiser Sheikh and Shahzad Ali Malik were given appreciation awards.
Pre-budget consultative session: LCCI President Sheikh Muhammad Arshad has said that economic growth lies in implementation of good economic governance and the government should revisit all its economic policies in the federal budget 2016-17 to overcome the economic challenges in shortest possible time.
He was addressing a gathering of traders from various markets led by Ashraf Bhatti at the LCCI. Vice President Nasir Saeed, representatives of trading community Zaheer Babar, Naeem Badsha, Arshad Khan, Arshad Iqbal, Mian Saleem, Mian Tariq, Mian Waqar and former Vice President Abuzar Shad were prominent amongst others.
Sheikh Muhammad Arshad informed the participants that according to the prime minister’s adviser on revenue, government departments are seriously considering the LCCI industry-related budget proposals 2016-17. He said that well consulted budget proposals of trading community would also be forwarded to the government.
He said that heavy trade and current account deficit is not a good omen for the economy, therefore, “we should give workable proposals to resolve such economic issues”.
The president agreed with the delegation members that discretionary powers of the Federal Board of Revenue (FBR) officials should be withdrawn immediately.
Sheikh Muhammad Arshad said Pakistan lacks culture of tax compliance. He said that there is an urgent need to reform the taxation system by engaging all the stakeholders. He urged the government to withdraw Withholding Tax on bank transactions in the larger interest of the trade and industry. He also called to remove the double taxation system that is hampering the trade and economic activities in the country.
The LCCI president said that the government would have to weed out the menace of smuggling and under-invoicing before implementing any tax avoidance measures. He said that it was very unfortunate that instead of widening tax base and bringing the untaxed sectors into the tax net, steps are being taken to squeeze the existing taxpayers.