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Asian Tribune is published by World Institute For Asian Studies|Powered by WIAS Vol. 12 No. 2341

Local banks incapable of meeting CPEC requirements: Mian Zahid Hussain

Islamabad,February 18, February (Asiatribune.com)

President Pakistan Businessmen and Intellectuals Forum (PBIF), President AKIA, Senior Vice Chairman of the Businessmen Panel of FPCCI and former Provincial Minister Mian Zahid Hussain on Friday said local banks are not capable enough to meet the requirements of CPEC.

Government should ask banks to increase their strength and invite big foreign banks to step into Pakistan’s promising market, he said.

Mian Zahid Hussain said that FBR has started implementation of establishing 41 buildings on the economic corridor to handle tax related issues. Now government should immediately increase budget and number of employees of the Apex tax agency so that it could handle tax matters properly.

He said that the most important project is establishment of proper facilities on the Pak-China border in Gilgit-Baltistan where the related facilities are not up to the required level.

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.

- Asian Tribune -

President Pakistan Businessmen and Intellectuals Forum
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