Benami transactions must be regularised: Baig

KARACHI: FPCCI high powered delegation led by President Engr Daroo Khan Achakzai, Senior Vice President Dr. Mirza Ikhtiar Baig, Zubair Tufail and Mazhar A. Nasir attended NA Standing Committee meeting on Finance, Revenue and Economic Affairs to discuss budgetary proposals, amnesty scheme and revival of the real estate sector. The meeting was chaired by MNA Faiz Ullah, attended by Finance Minister Asad Omar, State Minister for Revenue Azhar Hammad, member inland policy FBR Ahmed Hamid, President KCCI Junaid Makda, Chairman ABAD Hassan Bakshi and Presidents of the chambers.

President FPCCI Engr. Daroo Khan stressed to introduce long term amnesty scheme. Dr. Mirza Ikhtiar Baig said the IMF and other multilateral lenders were projecting lowest growth for Pakistan this year and the next year. Government should come up with measures to boost the dwindling GDP growth trajectory through policy intervention. He said reduction of 1% GDP mean loss of hundred thousands of jobs, which would increase unemployment. Baig said benami transactions are going on for the last 70 years and need to be carefully regularized avoiding harassment to the business community and investors, to keep pace of the economic growth. Law makers and MNAs Qaiser Ahmed Sheikh, Dr. Ramesh Kumar Vankwani, Dr. Aisha Ghaus Pasha, Ms. Nafisa Shah, Faheem Khan, Aamir Omer Malik, took part in the budget discussions with stake holders. —PR