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PM’s investment package lauded

PM’s investment package lauded

ISLAMABAD: Experts and businessmen from across the country have lauded Prime Minister’s recently announced tax-incentive package.

Former finance minister Dr Salman Shah has said that the amnesty package announced by the PM allowing investment without any question about the source of income is suitable to restrain increasing unemployment and improve growth course. He added that this would help tackle severe unemployment, slow growth and high input costs and resolve these problems to some extent. He advised the government to take solid measures to introduce new tax measures with strict laws to increase revenue generation.

Former financial advisor to Finance Ministry Dr Ashfaq Hasan Khan said that the incentive package would bring in overseas investment as well, and improve economic growth and create jobs. “However, for medium to long term solution, Pakistan badly needs reforms in both tax system and tax administration,” he added.

Construction Association of Pakistan Chairman Afzal-ur-Rehman has said that the package of incentives would help the rich developers cater to the upper middle income earners and rich as well as those operating in the black market who would now be able to whiten their ill-gotten gains.

Interior Housing Society President Asif Nawaz praised the incentives announced by the PM for town developers and said that the package consists of practical measures to provide low budget shelters for poor segments of the society and employment.

Islamabad Chamber of Commerce and Industries President Shaban Khalid stated, “We take the incentives for investors and taxpayers as part of confidence building measures between government and business community.”

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has also lauded the package stating that it will improve confidence of the business community. “The amnesty and incentives-laden package would improve sentiments, investment climate, tax base and the job market while reducing cost of doing business,” said a statement issued by FPCCI.