KARACHI: Senate Standing Committee on Commerce, chaired by Anusha Rahman convened at Karachi Chamber of Commerce and Industry to discuss challenges faced by business community in light of latest budget's taxation policies.

Committee aimed to assess progress and future strategies of business sector, with particular attention to export challenges and economic stability. Besides Anusha Rahman, meeting was joined by committee members Senator Samad Ali, Senator Muhammad Talal Chaudhry, Chairman Businessmen Group and Chief Executive of TDAP Zubair Motiwala, Vice Chairman BMG Jawed Bilwani, President KCCI Iftikhar Ahmed Sheikh, senior Vice President KCCI Altaf A. Ghaffar, Vice President Tanveer Ahmed Barry and other former presidents and managing committee members. Chairman emphasised government's commitment to improving country's economy despite strict conditions imposed by International Monetary Fund.

"Prime Minister Shehbaz Sharif is working day and night to improve economy of country. IMF conditions have created challenges on economic front, but government is continuously working to address them. We expect to see improvements soon," she said. Addressing challenges put forward by KCCI president regarding energy crisis, high taxation and interest rates, Rahman stated, "Senate Committee aims to promote successful business opportunities. Business community and committee must work together to find mutual solutions. Export growth and export-led growth are vital for creating more stable economic environment." she noted, "Diversification of exports is crucial for economic growth and will help stabilise country." Furthermore, Senator Talal Chaudhry also spoke the meeting, highlighting government's support for business-friendly policies. "Government always supports business-friendly policies as we believe in motto of relief and reforms."  He added, "Despite numerous challenges, there has been betterment in overall situation. Dollar has been stable, stock market is improving and interest rates are low. Standing committee fully supports recommendation for levelled tariffs in addressing energy crisis," he noted.

President KCCI Iftikhar Ahmed Sheikh noted suggestions to eliminate hurdles for business community, especially those related to exports to encourage ease of doing business and boost exports and economic development including, revoking SRO 350 to ensure smooth functioning of companies and industries. Meeting concluded with commitment from both Senate Standing Committee on Commerce and the KCCI to continue working collaboratively towards finding viable solutions for economic challenges facing business community.