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FPCCI demands cut in mark-up rate

LAHORE:Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Saturday urged the government to reduce mark-up rate to promote trade and industry, and to ensure economic development in the country.

FPCCI President Mian Anjum Nisar made this demand while chairing a meeting with Automobile Spare Parts Importers and Dealers Association (PASPIDA), All Pakistan Computer Association (APCA) and Lahore Hides and Skin Merchant Trade Group delegations here at the Federation’s Regional Office.

He was of the view that high mark-up and energy prices, unemployment and trade deficit were serious concerns of economy, and reduction in interest rate would make the borrowing easy for private sector and also encourage investment.

The FPCCI President said that country’s industrial sector was faced with numerous challenges posing threat of shrinking its share/space in the international markets for which government should reduce the ratio and number of taxes on local products enabling these to drill out their way in the global market. In addition, he said, the industry must all be supplied gas and electricity on justified tariffs.

Mian Anjum Nisar assured that FPCCI would play its role in restoration economic activities in the backward areas, and it would also do its best to get access of Pakistani paroducts to various global markets. All possible steps have been taken to improve the economy of the country, he vowed.

He also assured his full support and cooperation to member trade bodies for resolving their genuine issues related to trade and industry.

He also emphasized on further strengthening the research and development activities in FPCCI for policy advocacy and improving the economic growth; reducing unemployment and poverty, and enhancement of exports.