War against corruption: Business community supports PM: Iftikhar

Business Recorder

Chairman United Business Group at the Federation of Pakistan Chambers of Commerce and Industry Iftikhar Ali Malik Thursday espousing Prime Minister’s announcement to form a high-level commission to investigate rampant corruption over the last 10 years said the business community will extend all support to Imran Khan in his mission to eliminate menace of corruption, in all its forms and manifestations from the country.

Talking to media here today, he said that corruption was not the only financial wrongdoing but also a misuse of authority and that all chambers across the country including UBG are fully conscious of its implications stand by the PM in his efforts to get rid of the menace plagued the society. He also appreciated the PTI government for taking prompt action on complaints, forwarded by the business community, related to agriculture and maritime sectors that required immediate intervention.

He further said that corruption was a major obstacle to progress of our country. In the past, Pakistan was undeniably harmed by plundering national resources through corrupt practices. He said the disgruntled elements filled their pockets rendering our national exchequer empty. Furthermore, he said it is a good sign that the PTI government wanted across the board accountability of dishonest elements and there was no room for these unscrupulous elements in new Pakistan.

“The elements involved in corruption are the real enemies of our country that also destroyed the moral fiber of our society and nation as it is only because of them that Pakistan today lagging behind in the race of progress, development and prosperity” he added.

Malik said Imran has initiated meaningful reforms across all the important fields to make Pakistan prosperous and respected country which will help him winning hearts and minds of the people. He said the government should also focus its attention on the neglected sector of domestic commerce which has thirty two percent shares in the GDP while it employs twenty percent of the workers.

He said that higher exports are the only solution to get the country out of prevailing financial crunch. It is the only way that can help repay debts otherwise the country would never be able to get out of the debt trap and would have to take fresh loans to service the principal amount and interest of the actual loans which is already over $93 billion, he said.

Iftikhar also welcomed PM’s Asset Declaration Amnesty Scheme and termed it a judicious step to bring tax evaders under tax net by exposing their undocumented and undeclared properties and wealth within country and abroad by paying nominal tax. The tax collection system in Pakistan is very cumbersome which needs to be reviewed and simplified as per global environment, he added.

Moreover, the tax amnesty scheme should also boost industrialization and create new investment in other than real estate sector of economy and improve cost/ease of doing business.

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