The Federation of Pakistan Chambers of Commerce and Industry (FPCCI), which had praised the budget 2014-15 initialy, pointed out some irritants in the Finance Bill 2014-15 yesterday. The FPCCI urged Finance Minister Ishaq Dar to address them in consultation with the private sector.
Addressing a press conference, FPCCI President Zakaria Usman said after going through the details of the Finance Bill the apex body of trade and industry now believes that burden of taxes outweighs concessions announced in the budget.
Explaining the impact of increase in GIDC, the FPCCI chief said that cost of power generation of all industries running captive power plants and using gas to generate energy would increase by 30 per cent which would swallow all the incentives.
