Korangi Association of Trade & Industry (KATI) has welcomed the “Economic Reform Package” announced by Federal Finance Minister Asad Umer. Statement released by President Danish Khan, Senior Vice President Faraz-ur-Rehman and Vice President Maheen Salman appreciated the measures announced in finance bill.
KATI president said that the announced measures to promote industrial production, exports and investments in country reinforced the confidence of business community.
He said that PM Imran Khan promises to decrease cost of production and doing business, was made in his first speech after election victory, this package was a very positive step towards this goal.
Danish also appreciated the announcement of issuing promissory notes to exporters, to resolve liquidity issue due to delay in returns payment.
President KATI said that industry was demanding since along to reduce or exempt raw materials of imports of export oriented industry, which has recognized by government.
He was of view that after a long time Federal government showed its will and dimension for stabilization of industry and business activity in the country.
Danish Khan said that a simple and steady tax submission systems was announced for Islamabad, it should be extended to the entire country.
President KATI further said that industry in Karachi was facing sever infrastructural issues, government should announced a special development package for the city.
He also applauded that measure announced to reduce income tax on bank loans for SMEs and agriculture sector and withdrawal of withholding tax on bank transactions for fillers.
“In coming national budget we expect more from the government regarding lower cost of production and ease of business “he added.