Karachi: Mian Zahid Hussain, a prominent figure in Pakistan's business community, has praised the Sindh Government's decision to reduce the Infrastructure Development Cess and its efforts to enhance security measures in the region. This move is seen as a critical step in restoring investor confidence and boosting the industrial sector in Sindh.
According to Pakistan Businessmen and Intellectuals Forum, Hussain, who holds several key positions including President of the Pakistan Businessmen and Intellectuals Forum and Chairman of the National Business Group Pakistan, spoke at a dinner hosted by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI). During the event, he highlighted the reduction of the Sindh Infrastructure Cess as a historic relief for industries, attributing this achievement to the leadership of Sindh's Home Minister Ziaul Hassan Lanjar and FPCCI President Atif Ikram Sheikh.
The reduction in the cess from 1.85% to 0.85% (and 0.80% for non-litigants) is expected to unlock Rs. 350 billion currently tied up in litigation. The new settlement terms offer businesses the opportunity to pay 15% by July 2026 and the rest over 12 years, providing financial relief. Additionally, the abolition of the cess on the Export Facilitation Scheme aims to enhance the global competitiveness of Sindh's exports.
In terms of security, Hussain expressed support for the Karachi Safe City Project, which includes deploying 1,300 high-definition cameras across 300 sites. This initiative, combined with advanced technologies like facial recognition, is expected to improve law enforcement capabilities against street crime. Hussain emphasized the importance of a safe environment for economic prosperity and advocated for a joint monitoring committee to oversee the project's implementation.
Hussain also stressed the necessity for the revenue from the revised cess to be allocated for infrastructure rehabilitation in industrial zones, ensuring that Sindh becomes a more attractive destination for industrial relocation.
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