FPCCI slams govt’s ‘coercive actions’ against industrialists

Dawn reported that leaders of the Federation of Pakistan Chambers of Commerce and Industry in Hyderabad want power tariffs brought in line with regional countries to support growth and stability. They also criticised what they called coercive measures by the FBR against businessmen and industrialists. The remarks were made at two receptions on Monday and Tuesday, hosted by Iqbal Baig and Saleem Memon in honour of the federation's leaders.

FPCCI patron in chief S.M. Tanvir said electricity was costing businesses 17 cents, compared with seven cents in other regional countries, and credited the federation's pressure with cutting the figure to 12 cents. He said independent power producers had undermined Pakistan's future and urged action on multiple taxes, institutional oversight and the fuel crisis. He also cited a policy rate of 22 per cent and ongoing wars, which he said kept inflation from being controlled.

He said the FBR was entering factories and belittling people, which he called a serious concern. Although he accepted that defaulting entities face administrative action, he said businesses must pay taxes and called for more special economic zones like those at Dhabeji and Khairpur. Separately, Nadeem Siddiqui, president-elect of the small traders' chamber, said Hyderabad SITE was contributing Rs120 to Rs200 billion through industrial production, but poor infrastructure has hurt the area and it should be upgraded.