LCCI, ACCA unveil strategy for economic growth

LAHORE: Strong fiscal policies backed by long-term stability, sizeable budget for energy projects, cut in spending, tax on agri incomes, rationalization of taxes and decrease in duties on imported raw materials and increase in tax revenues are prerequisite for sustainable economic growth of the country. This was the upshot of the speeches delivered at a pre-budget seminar jointly organized by Lahore Chamber of Commerce and Industry and Association of Chartered Certified Accountants (ACCA) here at LCCI on Tuesday. The speakers included LCCI President Farooq Iftikhar, SVP Irfan Iqbal Sheikh, Pakistan Tax Bar Association's President Zulfiqar Khan, FCCA Muhammad Arshad, Senior Partner, Pakistan Law Associates, Syed Mansoor Ali Zaidi, LCCI Executive Committee Member Tanvir Ahmad Sufi and Sana Zeb. The recommendations also covered Sales Tax, Customs and Income Tax, while there was a consensus among the speakers that all economic policies should be aimed at facilitation to growth, be friendly for businesses and easy on spender pockets. In his opening remarks, the LCCI President Farooq Iftikhar said that a sizeable portion of the budget should be earmarked for the energy generation projects including hydel and especially for the development and execution of Thar Coal Project. The shortage of energy was the...

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