LCCI seeks budget proposals from members

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) on Friday sought budget proposals from its members.
LCCI President Ijaz A Mumtaz said that LCCI members, conveners, co-conveners of the LCCI standing committees, and Lahore based trade and industrial associations should prepare and submit properly worked-out proposals to the LCCI, as the Federal Board of Revenue (FBR) had already started the budget making exercise.
The LCCI president also stressed upon the leading businessmen specifically to share their issues with the LCCI, so that competent authorities may be convinced to provide the required relief.
He said that the Lahore Chamber of Commerce and Industry always forwards budget proposals of its members to the federal and provincial governments, with an objective to create an enabling business atmosphere in the country, and it was a good omen that most of the forwarded proposals were incorporated in the Federal Budget.
He said that the government would have to rationalise taxes and duties to check smuggling and enable the business community to cope with multiple internal and external challenges. He said that the menace of smuggling has spread its tentacles and needs to be curbed with an iron hand. Smuggling was not only damaging the local industry, but also causing a huge loss to the national exchequer, he said. A cut in duties and taxes, he said would also be a great help in the government’s efforts for expanding the tax net.
Mumtaz suggested that the government should curtail to zero duty on the import of solar panels related equipment, so people could utilise alternate energy resource to overcome the ongoing energy crisis.
He said that the government would have to increase allocations for the health and education sectors as well.