The Senate Standing Committee on Commerce, on Tuesday, reiterated its commitment to fostering a supportive environment for businesses in Pakistan and assured traders and the industrial community of their fullest support for resolving the issues.
The meeting of the Senate Standing Committee was held here at Trade Development Authority of Pakistan (TDAP). Chairman of the committee Senator Zeeshan Khanzada presided over the meeting while Senator Saleem Mandviwalla, Senator Imamuddin Shouqeen, Senator Muhammad Qasim and Senator Khalida Ateeb attended the meeting, said a statement issued here.
Chief Executive Officer TDAP, Muhammad Zubair Motiwala, briefed the committee about trade and investment opportunities in Food, Agriculture, IT and other sectors in Pakistan, the performance of TDAP and outcomes of Pakistan Trade Facilitation Portal.
Chairman Committee Senator Zeeshan Khanzada, on the occasion, said that the visit of the Committee and subsequent deliberations underline the Senate Committee’s dedication to fostering a supportive environment for businesses in Pakistan.
The Committee would remain steadfast in its mission to facilitate economic growth, address challenges faced by the business community, and promote a robust export-oriented sector in the country, he vowed.
Representatives of the business community from KCCI also attended the meeting and shared core issues faced by the community, especially the export-oriented sector and emphasized the need for consistent economic policy coupled with integrated reforms in the taxation and energy sectors. The meeting while discussing the energy crisis and high energy tariff observed that persistent challenges stemming from the energy crisis and increase in power tariff has affected business operations and competitiveness. The KCCI delegation indicated that reduced gas supply to industrial units, higher policy rates and delay in opening letter of credits (LCs) and issuance of refunds by FBR were causing difficulties for business and industry. They demanded resolving issues of gas supply to industries, swift opening of LC, reducing policy rate and urgent release of tax refunds of Sales Tax and DLTL scheme for increasing production and improving liquidity position. The committee chairman Senator Zeeshan Khanzada assured KCCI that the Senate Committee on Commerce is committed to addressing the problems and recommendations and concerns of the trade and industrial community would be raised on relevant forums for immediate attention and resolution.
Senator Saleem Mandviwalla, Senator Imamuddin Shouqeen, Senator Muhammad Qasim and Senator Khalida Ateeb endorsed the view point of the Chairman Committee and assured of their full support in redressal of the problems of the business community.