RAWALPINDI, April 11: Federal Board of Revenue Chairman Abdullah Yusuf has said that shortages of electricity and gas, in addition to the law and order situation in the country, were hampering the business activities and had a negative impact on the revenue generation.

Speaking at the Rawalpindi Chamber of Commerce and Industry on Thursday evening as part of his pre-budget meetings with the business community, Abdullah Yusuf said that the rising oil prices in the international market had adverse effects on the economy as by size it was not that large to bear the jolt by rising oil prices.

He underlined the need for the continuation of investment policies, which are crucial to keep the wheels of economy moving as the growth of economy is directly influenced by investments.

Earlier, RCCI President Abdul Rauf Chaudhry said that the chamber would submit its proposals for the federal budget 2008-09.

Members of the chamber raised a number of issues being faced by them in respect of filing income tax and sales tax returns and other issues.