LAHORE - The Lahore Chamber of Commerce & Industry on Saturday welcomed the prompt actions by the Federal Finance Minister Ishaq Dar and cut in petroleum prices besides extending the date of tax return filing till October 31st.

In a statement, President of the Lahore Chamber of Commerce & Industry Kashif Anwar, Senior Vice President Chaudhry Zafar Mahmood and Vice President Adnan Khalid Butt said that cut in the prices of petroleum products and extension in the tax return filing date are great reliefs for the business community.

They said that the Lahore Chamber of Commerce & Industry was calling for cut in petroleum products prices and extension in the date of tax return filing. They said that the Finance Minister Ishaq Dar has taken good decisions which are a great favor to the business community.

The office-bearers of the Lahore Chamber of Commerce & Industry said that floods throughout the country and other challenges have halted the economic activities. They said that the business community and the government need to join hands to cope with the economic challenges in a winsome manner.

They added that one month extension in the tax return filing date is a wise decision as the business community can easily submit their returns as, because of floods, it was impossible for the business community to file their returns till September 30. The LCCI office-bearers said that the extension in the date for the filing of income tax returns will help the government to achieve its revenue targets besides trust building of the private sector.

They hoped that Finance Minister Ishaq Dar will overcome the issues like rupee devaluation, high cost of doing business, gap between the exports and imports etc. in the shortest possible time.