DNA

Rawalpindi: The Rawalpindi Chamber of Commerce and Industry (RCCI) has emphasized on making the environment favorable for investment in the country, securing investors’ confidence and promoting industrialization. Talking to the members of Private Housing Society (Bahria Town) at chamber house, President RCCI Saqib Rafiq and Group Leader Sohail Altaf expressed hope that the government will consider the Chamber proposals in the upcoming budget 2024-25.

He said that RCCI has recently organized All Pakistan Chambers Presidents’ Conference, where it formulated the comprehensive budget proposals seeking government attention towards investor friendly policies including lowering interest rate to single digit, steps towards lowering cost of doing business, cut in prices for energy and raw material etc.

The budget proposals have appreciated the role of SIFC in increasing foreign investment in the country, he said.

The members expressed concern over the raid on the offices of Bahria Town and said that the raid on the housing society is disturbing and created a panic environment among the investors. Talking to the members, Chamber President Saqib Rafiq said that the raid has sent a negative message to the business community, especially the investors. It is hoped that SIFC will take notice of the NAB raid on Bahria Town and will take immediate steps to ease the anxiety among local and foreign investors.

He said that at a time when every dollar is being chased to bring investment into the country, he said that most of the investments of overseas Pakistanis have been made in the housing and construction sector. A negative message has also been sent to Overseas Pakistanis. More than forty allied industries are connected to the construction sector, and the government receives billions of rupees in property tax, he added.