IPPs have destroyed the economy of the entire country, Anjum Nisar
KARACHI: Former President of Federation of Pakistan Chamber of Commerce and Industry (FPCCI) Anjum Nisar has said that IPPs have destroyed the economy of the entire country. The government should take the initiative in revising the tariff of its 52% IPPs.
Former president of FPCCI, Anjum Nisar, addressing the dialogue organized under the panel of businessmen on the topic of “Economic conditions and role of trade bodies”, said that due to lack of confidence and high cost, setting up new industries is far away. The old industries are not running.
He said that he is with the small businessmen on the issue of turnover tax. The government still has time to talk to the small traders, we announce our support for the small traders’ strike on 28th August.
He said that due to IPPs, the country’s economy has been destroyed and capital is rapidly moving abroad from the country. Investors are racing to get citizenship of other countries.
Anjum Nisar said that the IT industry has also come close to disaster due to internet problems. Currently, freelancers from all over the world are getting work, but due to internet speed in Pakistan, freelancers have stopped getting work. He said that Pakistanis have invested 11 billion dollars in UAE alone.
Nasir Hayat Magu, senior vice-chairman of the Businessmen Group and former president of FPCCI, said that foreign investors in IPPs have left and local investors have come, if audit is conducted, many secrets will be revealed. , IPPs who are not running are also being given money.
He said that the shopkeepers who are receiving notices of 60,000 will eventually suffer.
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