LAHORE: Lahore Chamber of Commerce and Industry President Kashif Anwar, alongside leading business figures, met with Chief of Army Staff (COAS) General Syed Asim Munir, here in Lahore on Sunday.
Caretaker Punjab Chief Minister Mohsin Naqvi was also present in the meeting in which the economic trajectories of the country were discussed in detail; an LCCI spokesman told the media.
During the meeting, COAS underlined the crucial role of the Special Investment Facilitation Council, emphasizing its potential to attract significant investments of up to one hundred billion dollars from countries such as Saudi Arabia, Kuwait, the UAE, and others.
Kashif Anwar, in alignment with the broader business community, suggested an active engagement with all chambers to incorporate different perspectives into the task force’s agenda.
Addressing critical problems faced by the people, Kashif Anwar proposed a reduction in income and sales tax rates on electricity bills. He said that people were facing difficulties due the burden of high taxation on electricity, badly impacting their daily lives and businesses.
Moreover, Kashif Anwar presented a pragmatic approach to fuel adjustment charges, suggesting for their collection during the winter months when the consumption of electricity is lower, alleviating financial stress on people.
Recognizing the pivotal role of exchange rates in the economic landscape of the country, the LCCI President urged for greater control over the rates of the US dollar in both interbank and open markets.
COAS Assures Full Support
The army chief responded positively, assuring that money exchanges would be brought under the purview of taxation, increasing transparency in dollar exchange and interbank rates.
President LCCI also pointed out that the disparity between the State Bank’s rate and the Hundi rate often resulted in the preference for Hundi channels when it comes to remittances. He stressed that if these rates were aligned, remittances would naturally flow through the State Bank of Pakistan. APP
