Daily Times

The Rawalpindi Chamber of Commerce and Industry (RCCI) has expressed the hope that newly appointed Federal Minister for Finance Shaukat Khan Tarin would take all stakeholders into confidence before finalizing budgetary proposals for the upcoming fiscal year 2021-22.

RCCI President Mohammad Nasir Mirza, in a statement, asked the govt to reduce the electricity and gas prices to lower business costs as the country’s economy was facing many challenges including the COVID-19 pandemic. He asked the govt to provide interest-free loans on soft terms to the businesswomen, especially those who belonged to the cottage industry. “A special Covid-19 concession package should also be announced for women,” he said. The tourism was severely affected and a package should be announced for this sector while the corporate tax rate should be reduced to 20%, he added.

Nasir said the sales tax rate should also be condensed to a single digit. The president asked the government to form a task force for food security and special attention be given to agro-based industries. Like the construction package, a concessional package should be announced for other sectors including cotton as its production was affected badly, he added. “A new policy should be formulated regarding seed procurement, “he added.