Federation of Pakistan Chambers of Commerce & Industry (FPCCI) President Atif Ikram Sheikh has urged the nationwide business community to remain calm, demonstrate unity, and avoid protests while dialogue continues with the government over controversial clauses in the Finance Act. He expressed confidence in negotiation efforts and stated that FPCCI would announce its future course of action after consultations if issues are not resolved within a week.
In a recent video statement, FPCCI President Atif Ikram Sheikh appealed to businesses across the country to avoid any form of protest, stressing the importance of presenting a unified stance. He highlighted ongoing productive discussions with the government aimed at addressing significant business community concerns regarding specific provisions in the recently introduced Finance Act.
Mr. Sheikh explained that during a meeting with Minister of State for Finance Bilal Azhar Kayani at the FPCCI offices, stakeholders openly expressed their reservations concerning controversial sections of the Sales Tax Act, namely sections 30A, 8B, and 40B, as well as section 21S of the Income Tax Ordinance. In response, Minister Kayani and his team offered assurances of thoroughly addressing these concerns.
According to Sheikh, the Minister of State requested a brief period until Tuesday to carefully assess the highlighted sections and find potential solutions acceptable to stakeholders. He added that discussions have progressed in a positive direction and expressed optimism that the government would soon resolve these issues amicably.
Sheikh emphasized the importance of dialogue as the preferred method for resolving differences, adding that the economy is gradually improving and the business community’s confidence is steadily recovering. “It is essential to eliminate the atmosphere of fear to ensure uninterrupted economic activity,” he noted.
The FPCCI president further reiterated that the entire business community must remain united at this critical juncture and refrain from activities that might harm ongoing negotiations. He assured that FPCCI continues to play a proactive role in mediating discussions and addressing business community concerns.
However, Mr. Sheikh was firm in his conclusion, noting that if the government fails to satisfactorily resolve the outstanding issues within one week, FPCCI would consult extensively with stakeholders before announcing its next steps.
