LAHORE - Caretaker Punjab Finance Minister Zia Haider Rizvi Saturday said a formula had been finalised for unanimous tax returns for oil tankers and transporters, which would be notified in a couple of days.

Addressing a reception hosted in his honour by Lahore Chamber of Commerce & Industry (LCCI) president Tahir Javaid here at Punjab Revenue Authority, he said the caretaker government knew well how to solve the problems of people.

He said industry was the most important part of the country's economy and it was his priority to solve the problems being faced by the businessmen.

Caretaker Minister for Industry Mian Anjum Nisar said high prices of gas and electricity along with double taxes had ruined the industry. The business at dry ports had gone down, he added.

Caretaker Minister for Labour Mian Nauman Kabir, while thanking the minister for finance, said the problems of industry were due to lack of contacts among related departments, and, therefore, it was need of the hour to bring them at one platform. All stakeholders of Awami Rabta Campaign were being brought at one place, he added.

He assured that the caretaker ministers would have a sitting daily for one hour to look for solutions of the problems being faced by the people.

The LCCI president said the way the Punjab government was handling the Chamber's problems was appreciable. It was the main reason that industrialists had more trust in the government and the volume investment was increasing with each passing day, he added.

Malik Tahir Javaid, while appreciating the PRA, told the provincial ministers that the problems being faced by the people had been pointed out by PRA chairman Rahil Ahmad Sidique and the ministers themselves. He expressed satisfaction over continuous contact with the federal government for approval of the formula regarding unanimous taxes for oil tankers and double taxes. He said that the other problems of Chamber would also be solved in the same way.

The Punjab Revenue Authority (PRA) representative said federal government's coordination was required for the solution to double taxation and input adjustment. The provincial government was trying its best to resolve the issues in that respect.

Rahil Ahmad Sidique said on account of input adjustment, the Federal Board of Revenue was to pay an amount of Rs 66,877,680,972 to the provincial government.