ATT agreement be reviewed

KARACHI - Advisor to CM Sindh for Investment Zubair Ahmed Motiwala has said that Afghan Transit Trade
agreement which was made decades ago, needed to be reviewed in the light of present ground realities as it
was a menace affecting local industry.
In a letter addressed to Prime Minister of Pakistan, Advisor to Chief Minister on Investment Zubair Ahmed
Motiwala has also expressed his reservations on behalf of business community on the new proposal of Value
Added Tax (VAT) on industries and production.
He said that existing tax structure was working well as it has been enforced after decades of trials and
experiments. The VAT has been tried and failed with even guns and boots, he opined and added that if insisted
it will have the same fate and result in total shut downs, strikes, closures and violence.
Motiwala, while praising the decision of introduction of zero-rated sectors, said that it saved the national
exchequer billions of rupees, stopped harassment, eliminated corruption and resulted in dignified business
persons to work. Owing to this decision brand logo 'made in Pakistan is being proudly adopted by business
community, he added.
Lauding the efforts of Federal Government for market access in USA and European Union, Advisor Investment
further said that Sindh Board of Investment was also endeavouring in the same direction.
On the issue of electricity crisis, Motiwala said that KESC is a sour issue for all Karachiites. Citizens, small
traders, industrialists and investors are suffering from the inept service of KESC and it is a general perception,
which is justified that present management of KESC cannot deliver, he added. He also urged the Prime Minister
to take bold decision with regards to KESC, otherwise economic development and promotion of investment
activities would remain a distant dream.
He also requested for making OGRA and NEPRA more consumer friendly. These should be restructured and
two representatives from business community and one from judiciary should be included in these organisations,
he further added.
Pointing at the establishment of a development fund of almost $30 million to support and stimulate investments
in Sindh, he requested the Prime Minister to direct National Bank in this regard, so as to provide help to small
investors with discounted rates for projects under this scheme. A matching grant of $30 million by USAID is also
expected in this regard, he added.
Stating the process of establishment of Japan Economic Zone on 2000 acres, the Advisor urged the Prime
Minister to direct FBR and utility agencies for attaching top priority to this project as it would create thousands of
jobs and bring foreign investment of millions of dollars.
While referring establishment of education city on 9000 acres of land, he requested the Prime Minister for
issuing directives to Federal Planning Department for providing Infrastructure for the project.
Informing the Prime Minister about the endeavours of Sindh Board of Investment, the Advisor said that the Board
has succeeded in reducing stamp duty on export LCs by 50pc and one window facility for its collection.