Enhancement of banks’ capacity to meet CPEC requirements urged

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ISLAMABAD, Feb 17 (APP): The Pakistan Businessmen and Intellectuals Forum (PBIF) Friday called on the government to help local banks in enhancing their capacities to meet the requirements of mega project of China Pakistan Economic Corridor (CPEC).
“The government should ask banks to increase their strength and invite big foreign banks to step into Pakistan’s promising market”, said President PBIF Mian Zahid Hussain in a statement issued here.
Mian Zahid Hussain, who is also senior vice Chairman of the Businessmen Panel of Federation of Pakistan Chamber of Commerce and Industries (FPCCI) said that the Federal Board of Revenue (FBR) has started implementation of establishing 41 buildings on the economic corridor to handle tax related issues.
The business leader said that government should ensure that all the project initiated by the FBR should be completed without any complication leading to delay.
He noted that the current administration has started giving incentives to the staff of the FBR which will have a positive impact on the overall performance.
The decision of the government to resolve the longstanding disputes between taxpayers and tax collectors is laudable which will reduce the burden on the tax agency, he said.
But during resolving issues of tax payer, it must be ensured that no tax payer got harassed as it will discourage Business Fraternity, he added.