KARACHI, Dec 29: President FPCCI (Federation of Pakistan Chambers of Commerce and Industry) Chaudhry Muhammad Saeed has appreciated the present government for recognising the importance and the key role of the apex body in formulation of national economic policies.

He said this while addressing a press conference here on Friday at the Federation House on his last day in office as the new managing committee takes over on Saturday.

The government included FPCCI in joint ministerial committees, besides enrolling it on joint venture committee so that a direct feedback of the business community on various issues could be sought for finalising policy matters, he said.

There was a serious interaction between the FPCCI and the government officials negotiating FTA with a neighbouring country and the FPCCI was kept fully involved in the process, he added.

In return, the business community also stood to the test and helped in achieving export target set by the government, he added.

The feedback from the FPCCI was incorporated in the federal budget and thus old complaint of neglecting the business and trade sector was addressed, the FPCCI president said

Referring to the results of FTA with China he said that imports from China had reached a saturation point and it is right time for the Pakistani exporters to enter the Chinese market. The Pakistan share in Sino-Pak trade volume of $4.6 billion was almost negligible but now a turnaround is expected.

Chaudhry Saeed urged the business community to play its due role in boosting exports and fulfil its responsibilities by paying due taxes.

The tax net of country is presently confined to the government employees, multinationals but with modified and improved taxation system, including self assessment the business community should come forward and assist government in this area too, he said.

He supported the privatisation of public establishments and said that the sale proceeds helped a great deal in bridging the trade deficit gap.

The Federation of Pakistan Chambers of Commerce and Industry president called for improving trade diplomacy and said that Pakistan was unable to tap the opportunities and secure market access after 9/11 although it is still a major partner in war against terror.—APP