FPCCI Committee Advocates for Regional Stability to Boost Pakistan’s Global Trade

Nadeem Ahmed Kushtiwala, the convener of the FPCCI Central Standing Committee on Hardware Merchants, has asserted that regional stability is crucial for Pakistan to expand its presence in global commerce. He urged the government to incorporate recommendations from the business sector into the federal budget to stimulate exports, maintain industrial operations, and avoid giving complete control of domestic trade to FBR officials.

He expressed that such measures would foster business expansion, generate increased tax collections for the FBR, and facilitate the government in achieving its revenue objectives. He conveyed these remarks during the fourth session of the Central Standing Committee on Hardware Merchants, held at the Federation House. The gathering saw the participation of Deputy Convener Shaukat Ismail, Tariq Rasheed, Tariq Younus, Hamza Nisar, and Faizan Nasir.

Kushtiwala emphasized the budget’s lack of significant tax incentives or supportive measures for individuals with disabilities, special needs individuals, and senior citizens. Additionally, he noted the absence of proposed projects or initiatives aimed at advancing critical sectors such as agriculture, industry, manufacturing, ports/shipping/logistics, the maritime sector, and export activities. He voiced concern over the lack of strategies to tackle the ongoing brain drain, which is adversely impacting the nation, with approximately 90% of highly educated professionals emigrating.

Kushtiwala further mentioned that the budget fails to increase funding for vital public services, including education, healthcare, and access to potable water, all of which are essential for enhancing overall quality of life.

During the meeting, participants underscored the absence of revisions to the Valuation Department’s assessment system. Elevated valuation rulings on a broad spectrum of HS Code items are escalating landed costs, severely hindering the export sector, especially the textile and apparel industries, in their efforts to compete effectively in the international arena.