FCCI, BKMEA Leaders Urge Tax Reforms to Boost Investment

Leaders from the Faisalabad Chamber of Commerce and Industry (FCCI) and the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) have expressed concerns over their respective countries' tax systems, emphasizing that reform is essential to attract investment and stimulate economic growth. FCCI President Rehan Naseem Bharara highlighted that reducing tax rates would foster industrial growth and create job opportunities in Pakistan, while BKMEA President Mohammad Hatem criticized the complex tax structure in Bangladesh, which he claimed deters both local and foreign investment. Both leaders stressed the importance of collaboration between government and business sectors to improve the investment climate and support socioeconomic development. Hatem further called for fair wages for workers to enhance productivity, while also arguing against recent increases in utility prices without adequate supply. Bharara and Hatem's statements underscore a shared need for policy changes that prioritize a business-friendly environment in their respective countries. The advocacy for tax reforms is seen as crucial for achieving long-term economic stability and growth.