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B'stan Chamber calls for consistent economic policies

LAILA A ALI

QUETTA: The Balochistan Chamber of Commerce and Industry has called for consistency in policy on commerce, trade and industry, privatisation of state-owned industrial and commercial projects and units in a transparent manner.

The Chamber has also stringent steps against smuggling and creation of an economic environment for foreign and Pakistani investors and industrialists for enhanced economy and exports to earn foreign exchange.

Talking to Business Recorder on Thursday, chamber chief Sardar Mohammad Ali Jogezai, who is also vice president, Federation of Pakistan Chambers of Commerce and Industry on Finance, banking and insurance said Gen. Pervez Musharraf's government is in a better position to revamp economy and exports as the people, prospective investors and industrialists have faith in the honesty and integrity of the present set-up.

Asked how the present government should promote tax culture and widen tax base, so essential for national economy and export to be put on the right track, Jogezi said his chamber firmly believes in maximum collection of revenue for government coffers through transparent simple tax collection procedure.

He said the tax reforms should be so framed by the present government as to ensure respect for the tax payers. Moreover, competent and committed people from the business community should be closely associated with social, education, commerce, trade and industry as well as export promotion sectors by the government. Commercial counsellors, he suggested, should be selected from the business community for regulating international import-export trade tilted towards enhanced national economy and export. Such association would bring about better harmony between the government and the country's business community, the backbone of the national economy.

Jogezai said his chamber feels that there should be a one-window tax system to promote tax culture, prevent tax payers from unnecessary demands of tax officials, most of whom are pocketing money by dishonest means, minimising government revenue to the detriment of the country and the nation. These officials should be directed by the government to concentrate their time and energy on the tax evaders and bring them into the tax net.

Asked if he agreed that the shopkeepers dealing in smuggled items should be taxed to bring in better revenue, he replied in affirmative. He said mass scale smuggling reflects the magnitude of the menace the country's taxation system in which the government losing billions of rupees annually. Smugglers and traders dealing in smuggled goods are doing roaring business in the open market all over the country needs to taxed heavily ranging from 50 to 100 percent per item. Not only this would bring in, plenty of revenue for the exchequer, it will also discourage smuggling boost production and exports of Pakistani goods besides opening new avenue of employment for skilled and non-skilled workers.

There are bright chances for investment inflows because of Pakistan's ideal location for future trade and commerce with Central Asian States, Middle East and Europe.

About future industrial policy, Sardar Jogezai, who is also a member of the privatisation commission said the chamber feels that it should be export-oriented, workable with clear cut programme for revival off sick units and projects, restoring desired sustainable growth of big and small industries to meet the challenges of the current century.

To another query, Jogezai said industrial policies and programme of the previous governments failed because of one reason. In the past, he pointed out, parliamentarians, politicians and bureaucrats were entrusted the tasks of disbursing credits and advances for setting up chain of industries with vested interests.

These industries were bound to be sick because of the corrupt parliamentarians and politicians in League with bureaucrats and bankers.

They should be taken to task by NAB to bring back looted wealth to the exchequer.