RAWALPINDI: The business community has expressed concerns regarding growing political and economic uncertainty, as they are both connected to each other, the president of the Rawalpindi Chamber of Commerce and Industry (RCCI) said on Thursday.

Addressing a press conference, Zahif Latif Khan said investors– particularly foreign investors – would only be attracted once Pakistan is politically stable and there is a continuation of economic policies.

He added that traders and citizens were suffering due to the ongoing sit-in at Faizabad, “and the government should resolve the issue as soon as possible”.

Mr Khan said the government should provide an environment conducive to trade and industry, and economic stability could be achieved by removing bottlenecks.

“A responsive effort is required to thumb down negative indicators,” he said.

Referring to the China-Pakistan Economic Corridor (CPEC), he said that establishing industrial zones under the multi-billion rupee project would help the economy and create thousands of jobs.

Mr Khan also said traders and political parties should be united against enemies of Pakistan, saying that along with non-state activities, smuggling will be another problem that has to be addressed by securing the border.

“The RCCI is going to organise a CPEC conference in China early next year,” he said.

In response to a question, the RCCI president said it was concerning that the trade deficit, import bill and circular debt had widened, saying that the government must take immediate and concrete steps to improve exports and lower taxation.

He also criticised the government for failing to address the grievances of certain sectors – particularly the agriculture, textile and leather industries.

In response to a question on taxation, he said there are currently 1.4 million income tax filers, and the FBI has set up a target of 2m. Mr Khan said traders would cooperate fully in this regard, but added that harassing traders in the name of taxation must not be allowed.

He said matters related to encroachment, parking structures and public toilets in the city have been taken up with the station commander and CEO of the cantonment board.

Published in Dawn, November 17th, 2017