FPCCI and UBG present joint 40 pre budget proposals to Federal Finance Minister for 2019-20 budget.

LAHORE -- Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and United Business Group (UBG) Wednesday jointly presented a set of 40 pre budget proposals to Federal Finance Minister Asad Umar seeking special package of incentives to accelerate the pace of economic activities besides demanding curtailing discretionaries power of tax collectors in addition to relief in taxation, duties and income tax as well as broadening tax base on top priority. FPCCI President Engineer Daroo Khan Achakzai unfolding the salient features of proposals to media here Wednesday , he said that FPCCI and UBG suggested the government to revamp taxation system on modern line to accommodate the business community.

'The objectives of FPCCI budget proposals are revamping taxation system, documentation of economy, employment generation through industrialization, promoting a responsive and equitable taxation system, infrastructure development and trickledown effect of the fiscal space to the grass root level,' adding he said the government should reduce sales tax rate gradually from current 17 percent to single digit, to abolish all duty and...