Pakistan Industrial and Traders Associations Front wants incentives for promotion of economic activities
Lahore, November 08, 2013 (PPI-OT): Pakistan Industrial and Traders Associations Front (PIAF) on Friday urged the Chief Minister Punjab Muhammad Shahbaz Sharif and Federal Finance Minister Ishaq Dar to get removed all the hurdles being faced by the trade and industry and also announce incentives for the promotion of economic activities.
In a statement issued here, the Acting Chairman PIAF Khamis Saeed Butt said that the government decision to convene business community meeting is a welcome step that would go a long way in further strengthening private sector trust on the government.
He said that the private sector was always ready to supplement government efforts aimed at revival of the economy. He said that however the government would have to review its three-month gas suspension plan in the larger interests of the economy that had already been facing multiple internal and external challenges.
While inviting the attention of the Federal Finance Minister towards complex taxation procedures, the PIAF Acting Chairman said that difficult-to-understand taxation documents are the biggest impediment to government measures for expansion of tax net.
He said that the existing procedures were not only promoting corruption but also keeping a large number of small businessmen out of the tax net.
Khamis Saeed Butt said that once the existing high rate of GST is revised downward, it would not only be enabling the government to get more revenues but also give great help towards promotion of tax culture in the country that has one of the lowest tax-to-GDP ratio in the region.
For more information, Contact:
Pakistan Industrial and Traders Associations Front
110/s Kot Lakhpat Industrial Estate
Phone: (92) 42 5123522
Fax: (92) 42 5123522
Category: General Business News