LAHORE - The Lahore Chamber of Commerce and Industry on Friday rejected SRO 351 (I) 2014 and called for its immediate withdrawal for the economic well being of the country.
LCCI acting president Kashif Anwar was talking to the chairmen of various trade and industry associations. He said that the SRO 351 (I) 2014 would not only multiply to problems of business community but it would also open up the floodgates of corruption because of the repeated intervention of government agencies in the smooth running of businesses.
The LCCI acting president said that the business community was unable to understand the logic behind issuance of SRO 351 (I) 2014 that has created a parallel assessment organization in the presence of Large Taxpayer Units (LTUs) and RTOs. He termed SRO 351 (I) 2014 a well thought-out plan to tarnish the image of a business friendly government that otherwise was working day in and day out to promote economic activities in the country. Kashif Anwar said that the shortage of electricity and gas had already pushed the businesses to the wall and they were striving for their survival therefore such measures were bound to give a bad name to the govt. At this point in time when both the private sector and the government were putting in their best efforts to attract foreign investment in the country, the SRO 351 (I) 2014 would hit hard these measures.
He said that the SRO 351 (I) 2014 would also create a rift like situation among various government institutions as the powers given to DG Intelligence and Investigation, Inland Revenue, would severely be affecting the working of LTUs and RTOs.
He said that it was very unfortunate that the SRO 351 (I) 2014 was issued without even taking on board the chambers of commerce and industry in the country despite the assurance of the Prime Minister Mian Muhammad Nawaz Sharif and Federal Finance Ishaq Dar that no unilateral economic policy decisions would be taken in future and the private sector would be consulted.
Kashif Anwar said that after the issuance of SRO 351 (I) 2014 many government agencies would be interfering in the smooth running businesses that would ultimately be hitting the government revenues because the business people would more be concentrating on provision of various kinds of documents instead of expansion of their businesses.
The LCCI acting president urged the Prime Minister Mian Nawaz Sharif and Federal Finance Minister Ishaq Dar to look into the issue and direct the Chairman Federal Board of Revenue to immediately withdraw SRO 351 (I) 2014.