Businessmen hail Maryam as Punjab CM, hopes for better economy: DFPA

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LAHORE: /DNA/ – President Disposable Food Packaging Association (DFPA) Ahsan Shahid on Monday hailed the election of Maryam Nawaz as Chief Minister of Punjab and expressed hopes that she would stabilize the crumbling economy and law and order in the province, besides resolving provincial taxation issues.

Ahsan Shahid congratulated Maryam Nawaz for her success and pinned hopes on her for delivering on the economic front.

In separate statements, he pointed out the problems hurting the economy, and expressed hope that the new chief minister would take the economy in the right direction. He also assured of their full support in these matters.

The DFPA President said the DFPA would add-on to the government efforts aimed at improving the economic well-being of the country. He said her election was encouraging for the business community of Pakistan.

“The business community is optimistic that she would live up to the expectations of the people of Pakistan in achieving national goals and under her leadership our beloved country will record tremendous achievements in its economy, democracy and foreign relations,” he said.

Ahsan Shahid hoped that Pakistan would emerge as a global leader in innovation, security, poverty alleviation and infrastructure development. He said that the new Chief Minister would have to evolve a strategy to remove all the impediments to economic growth. The DFPA hoped that its recently released proposals would become a part of the budget document.

Provincial taxation issues, miseries of the agriculture sector, below the mark growth of large scale manufacturing sector, high energy cost, bureaucratic hurdles and below the mark exports were the biggest barriers to economic growth.

The number of taxes and frequency of paying taxes should be reduced. Moreover, taxes should be paid quarterly instead of every month. For that matter, all para tariffs must be merged in the main tariffs. Similarly, there should be electronic communication between taxpayers and tax departments. These proposals can make noticeable difference and win the confidence of taxpayers,” he added.

He said the entire business community hopes that the widening trade deficit would be narrowed, and suggested that the only way to address this core issue was to offer another excellent package of incentives to boost the exports manifolds and improve ease of doing business for sustainable economic growth.

He hoped she with her diverse experience would contribute towards economic development and do away with red-tape and de-regulations. He hoped that he would focus on tax reforms and promotion of tax culture in every sphere of life.

He said all stakeholders should be taken on board to make viable and prudent economic policies to accelerate growth and speed up industrialization across the country. He said soon well-conceived balanced export-oriented charter of economy would be presented to him, which, if implemented, would usher an era of prosperity, progress and development besides improving the socioeconomic condition of the downtrodden.