DCCI President said that government has initiated to establish 10 SEZs which is good but government needs to ensure all utility facilities as a fast track basis. He said 5-6% of GDP should be invested for infrastructure development. He said investment in infrastructure is a pre-condition to the FDI. Government will import LNG from 2018 and has a plan to subsidize in the consumer level adjusting with gas price which is good he said. Adding to this, he said in that cost of energy will not increase in a bigger scale in that case and it will attract more investment. Regarding government’s borrowing from banks, Abul Kasem Khan said there is not liquidity crisis in the bank and government’s borrowing from banks is a common phenomenon so it will not impact private sector credit flow. Rather we have to reduce non-performing loans, he said. Later, He termed the budget ‘business friendly’ but implementation of such large budget will be a challenge for the government. He thanked the government for establishing Project Monitoring Pool. He said it will expedite large projects in our country. BIDA has set a target to improve country’s position in ease of doing business by positioning it below 100 in global ease of doing business index by the next 5 year which needs also a yearly target.
DCCI supports government’s target to increase investment to GDP ratio to 31.09%. However, SEZs are critical to this to achieve and other impediments must be removed to faster growth of private investment. DCCI is overall happy about the government’s move to accelerate investment development in the country. The DCCI President expressed his hope that government will reconsider to reduce corporate tax, tax for publicly traded company and increase the tax free income limit for individual. Abul Kasem Khan said under the project monitoring pool government can implement DCCI’s concept of National Infrastructure Development Monitoring Advisory Authority (NIDMAA). He said if any company reinvests 2.5% of its gross income on R&D sector government should give tax rebate on that amount of money.