Pakistan, Uzbekistan express resolve to enter into Preferential Trade Agreement

Chairman United Business Group (UBG) Iftikhar Ali Malik Tuesday sought budget proposals from chambers and trade bodies for timely submission to the government for fully ensuring growth-oriented and business-friendly package to boost the economic activities during coronavirus pandemic.
In a statement issued here Tuesday, Iftikhar Malik said Pakistan is passing through great ordeal due to
coronavirus pandemic and at this uncertain time, business community should come forward with a
clear vision to steer out of the quagmire of impending economic crisis and in this regard, they should
tailor proposals which help the government to revive the economy.
He said the private sector wants to supplement the government’s efforts, aimed at economic revival
of the country, he said, adding that joint proposals will help make budget document business-friendly,
which would ultimately result in a robust export-led growth.
He said they will demand duty on primary raw materials, secondary raw materials, intermediate goods,
semi-finished goods and finished goods should be levied on the basis of cascading duty structure.
Iftikhar Ali Malik urged the government to focus on ease of doing business in the upcoming budget,
which will attract the much-needed investment to trigger economic growth in the country. The
government is highly appreciative of the contribution of the traders and the business community
towards strengthening the economy and promoting tax culture, he said.
He also demanded the government that FBR should establish a special cell to study the impact of the
virus on businesses and taxpayers. The findings should be used to finalise a corona response package
to stimulate the economy, he added.

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