KATI Endorses Finance Minister’s Economic Strategy for Pakistan

Karachi, The Korangi Association of Trade and Industry (KATI) has praised Federal Finance Minister Muhammad Aurangzeb's recent announcement about the development of a three-year economic policy. This policy is seen as a crucial step towards fostering long-term investment and sustainable development in Pakistan. KATI President Johar Qandhari highlighted the necessity for reforms in the Federal Board of Revenue (FBR), expansion of the tax base, and industrial growth to achieve rapid national progress.

According to Korangi Association of Trade and Industry, Qandhari expressed satisfaction with the government's direction, emphasizing the significance of reducing production costs to improve the international competitiveness of Pakistani products. He called for the inclusion of tax defaulters in the tax net to relieve the burden on existing taxpayers and pointed out the detrimental impact of the region's highest interest rates on the economy.

Qandhari also stressed the importance of lowering these rates to facilitate economic growth and attract investments. He expressed optimism about working closely with the government to craft a budget that meets industry needs and positions Pakistan on a trajectory towards economic recovery and advancement. Qandhari reaffirmed KATI's readiness to support governmental efforts designed to create a favorable business climate and ensure sustainable development.