LCCI backs corporate guarantees


LAHORE: Lahore Chamber of Commerce & Business (LCCI) on Thursday prolonged its assist to a authorities’s resolution of introducing ‘company assure’ in provisional evaluation dispute instances as an alternative of financial institution assure or pay order.

LCCI urged the federal government to maintain the choice and keep away from reconsidering the initiative.

In letters written to authorities high-ups, LCCI president Mian Nauman Kabir, senior vice chairman Mian Rehman Aziz Chan, and vice chairman Haris Ateeq, stated the federal authorities had taken an important resolution in Tax Legal guidelines (Third Modification) 2021 by introducing company assure in provisional evaluation dispute instances.

Speaking about reconsideration of the choice they stated, “It pains enterprise circles to study that the federal authorities is reconsidering this initiative even with out giving it a good strive.”

Such transfer could be a step in reverse path and would adversely have an effect on the companies in tough financial situations, they stated.