Rawalpindi Chamber of Commerce and Industry (RCCI) president Malik Shahid Saleem on Tuesday urged the government to document the informal economy. The share of the informal economy towards the Gross Development Product (GDP) is around 27 percent, he added.President Malik Shahid Saleem said that documentation of economy was vital for economic uplift and asked the government to introduce amendments in laws so that registration of income tax filing could be made hassle free. “The time has come for Pakistan to address inequity and to tackle the informal economy, which is considered a barrier to inclusive growth,” he said.He expressed the hope that newly-announced Assets Declaration Scheme, 2019 would encourage people to increase the tax net. “It will also help the government to document the economy. The Assets Declaration Scheme will enhance the tax base and bring benami and other unregistered assets into the formal economy,” he said. He said that according to the World Bank, Pakistan ranked 136 out of 190 countries in the ease of doing business (EoDB) index, while it ranked 173 regarding ease of taxpaying.He said that RCCI was ready to provide assistance and cooperation in raising awareness about the tax scheme. “We will invite the Federal Board of Revenue chairman and other representatives from the Finance Ministry. The economy must get back on track as soon as possible. The business community is not against such amnesty schemes. However, we have always been vocal in making such schemes conditional to investing the capital in the industrial sector,” he said. “The scheme aims to help the state treasury get more tax revenue. People who have not declared their assets should do so now. However, at the same time, the beneficiaries must be directed to divert the white capital into the industry so that we can have more job opportunities in a longer run,” he said.He also demanded that more incentives should be given to tax payers and reforms must be introduced in tax regime to help broaden the tax net and increase tax payers.