KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI), for the first time in its history, here on Monday announced shadow national budget for fiscal year 2014-15.
President FPCCI Zakria Usman, at a press conference at the Federation House here, said the shadow budget is completely impartial, unbiased and transparent basis.
The accelerated economic growth in long-term and providing the relief in short-term to the over burdened segments of the society are the generalized principles adopted in the formulation of budget proposals.
Zakaria Usman mentioned that being the apex trade body and the representative of all chambers of commerce and trade associations in the country, FPCCI is concerned with the federal budget and fiscal policy.
He said that being the bridge between the public and private sector, the FPCCI feels its responsibility to contribute in the problem solving policies and measures. It was a common practice in FPCCI to submit the tax proposals for federal budget. However, this year we decided to present shadow budget along with the tax proposals.
President FPCCI informed that the theme of FPCCI’s fiscal policy is based on the slogan: “ To provide relief to the common man, grow economy and save Pakistan.”
For saving Pakistan, we adopted the survival strategy. It was observed that major irritants in the systems are not based on economic policies but on administrative measures and procedural requirements.
He said that before preparation and presentation of shadow budget and tax proposals, FPCCI had organized several workshops and meetings. In meetings of the working groups, the proposals submitted by the member bodies were discussed with details. Some contradictory proposals received by the member bodies have been re-examined and the final proposals were redesigned in line with the best interest of the nation.
LAHORE: Securities and Exchange Commission of Pakistan (SECP) in collaboration with United States ...