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FPCCI demands setting up of Industrial Cost Commission

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged the government to set up the much awaited 'Industrial Cost Commission' to review the cost of inputs.

"There is urgent need for the commission to review the impact of cost of levies and charges of utilities by the government", the FPCCI president, Fazalur Rehman Dittu, said while addressing a press conference here on Monday.

He underscored the need to make the industrial products competitive in international markets.

"As a short-term measure, the government could offer special utility charges to manufacturers cum-exporters", he said and further sought similar incentive by State Bank of Pakistan (SBP) on export refinance at concessional rates.

The FPCCI chief criticised the inordinate delays in refund of sales tax. "Even exporters in 'Gold' category are facing problems despite promises that refunds will be made to them in 72 hours", he said.

He said exporters have complained of deferment of sales tax refunds for an indefinite period for want of verification of invoices. He demanded time limit for refund in all cases.

LABOUR POLICY

Dittu also called for framing of new labour policy to meet the present day requirements. "The government should also lay greater emphasis on human resource development so that our labour force can be trained to improve the quality of our product", he said.

He urged the government to remove bottlenecks in industrial development.

He welcomed the decision to set up the 'Information Technology Division' and urged that centres of excellence be established in the country to produce manpower to develop and use the new technology.

The FPCCI president said that business community of Pakistan was happy that the Chief Executive General Pervez Musharraf was giving top priority to the recovery of national economy. "Measures so far taken by the government have brought about improvements at macroeconomic level", he said.

The government revenue has increased in the first half of the fiscal year despite partial implementation of GST, inflation is low, foreign exchange reserves are stable and debt rescheduling with Paris and London clubs is almost complete, he observed.ÑAPP