HYDERABAD, July 13 The chairman of Businessmen Panel Hyderabad and former president of the Hyderabad Chamber of Commerce and Industry, Mohammad Amin Khatri, has warned the government that if Value Added Tax (VAT) is imposed without taking trade bodies and the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on board, the move will be resisted by the business fraternity.

Addressing members of the HCCI at a dinner at Diyaldas Club, he alleged that the government itself had created an artificial power crisis to divert attention of the business community from the issues.

Mr Khatri said that the government had failed to implement the financial policies of Shoukat Tarin adding that Dr Abdul Hafeez Shaikh was an eminent economist and, if the government followed his policies, the economic situation could still improve.

He said the government was trying to woo foreign investors whereas even the local investors were not prepared to make any investment due to power crisis, heavy mark-up and a number of taxes.

He said exports from Pakistan in the real sense had decreased but the government was calculating the exports in Pakistan currency which has been devalued for all practical purposes.

He said that Hyderabad was fortunate enough where law and order situation compared to other cities was much better and added that Hyderabad was an ideal place for investment.

He appealed to the Sindh government not to play with the demographic status of the city.

He said that in the past the membership of the chamber was restricted but the Businessmen Panel had expanded it up to 250 during the past nine months.