News Reporter
Islamabad: Tax harmonisation in Khyber-Pakhtunkhwa is crucial to prevent misuse of the government’s tax incentives and support for sustainable development of indigenous businesses, said Dr. Vaqar Ahmed, Joint Executive Director, Sustainable Development Policy Institute.
Dr. Ahmad was speaking at a public-private dialogue on “Business Regulatory Environment in newly merged districts, Khyber-Pakhtunkhwa” organised here by SDPI. Dr. Ahmad said that the newly merged districts of FATA offer immense economic and trade potential and have dynamic agricultural value chains which must be harnessed. He stressed that the KP government must conduct sector diagnostics, particularly in businesses working in the sectors of agriculture, trade, transport, and warehousing to scale them up from micro to small and medium stages.
MPA Syed Ghazi Ghazan Jamal stressed improving the uptake of renewable energy by domestic and commercial consumers. He said that billions of rupees are being spent on expanding distribution networks and grid systems to support businesses which can be avoided by promoting renewables.
He stressed small renewable power projects and reducing the financial burden for the provision of power to citizens through grid electricity.
Dr. Sebastian Paust, Counsellor, Embassy of Germany, observed that his country had a keen interest in building the capacity of technical training institutes in Pakistan. He said that Pakistan should review confidence-building measures among German investors due to business regulatory inconsistencies.
Adnan Jalil Executive Member, Peshawar Chamber of Small Traders and Industries said that the government should provide a 3.5% NFC share to ex-Fata districts to ensure continuity of development.
He suggested that future policies must be formulated in consultation with the provincial business community to ensure policy homogeneity and standardised growth.
Sohail Jan from SMEDA informed that SMEDA dispersed the assistance through US-Aid projects in the newly merged districts for supporting businesses. He pointed out that in response to 40,000 applications received, SMEDA managed to disperse $ 3 million in grants.
