(April 29, 2020)
FPCCI’s Businessmen Panel SVP, President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Wednesday lauded Green Package, Package of Health Workers, and abolishing withholding tax on bank transactions which will boost the economy and add to confidence of the business community. He also lauded the steps to boost remittances which will also improve the Forex reserves hit by the corona virus.
The government has decided to abolish 0.6 percent withholding tax on cash withdrawals from banks and taken steps to encourage use of formal banking channels.
Mian Zahid Hussain said that Prime Minister Imran Khan is fighting a war with the corona virus while focusing on the welfare of the business community, masses and especially those who are at the bottom which has further improved his image.
Talking to the business community, the veteran business leader said that reopening of the textile sector is promoting economy and providing jobs but there are problems linked to the supply chain therefore the allied industry should also be allowed to operate.
The former minister noted that supply chain disruption is a threat to export commitments. He added that all the refund claims should be paid while the government should also consider providing zero-rating facility to the export sector.
The small and medium businesses should be reopened on condition of following SOPs in letter and spirit so that they can escape bankruptcy.
He said that corona virus has also damaged retail sector which should be noticed and this sector should be allowed so that Eid sale can help them sustain businesses which are under serious threat, he demanded.