ISLAMABAD, JUN 24: President Federation of Pakistan Chamber of Commerce and Industry, Atif Ikram Sheikh, while talking about the budget anomalies, has said that 30% tax will be imposed on the money kept in the bank by non-filers, thirteen trillion rupees will be collected in a day. Expenses will have to be eliminated. Privatize everything in one year. We have proposed a five-line one-pager tax form. They should implement it. Five crore people will come into the tax net. We don’t want a non-filer category, just a filer category. It is necessary that the business community stands with the country and the nation. The businessman-friendly scheme is good, but the non-bailable warrants are reprehensible. The tax culture has to be made respectable.
Patron Chief Aptama and former caretaker minister Gohar Ijaz said that the solution to the country’s problems is not with the IMF, but with the businessmen and industrialists. Banks should first deduct 30% on the non-filer’s money, then withdraw the money from the bank. When it is 30% for businesses, why is the non-filer’s money kept in the bank safe from it? Terminate the agreement with IPP, we will bear the consequences. We will take it, otherwise everyone will die. Bring the business community together. We will build a transmission line for you. In the country, electricity is being sold at 60 rupees per unit. No one can buy electricity at 60 rupees per unit. IPPs contracts should be converted to take and pay.The contracts of IPPs should be terminated, two thousand billion rupees are being paid in terms of capacity, electricity transmission lines have not been installed in the country, will those who make such wrong policies be punished? Debts will not end by taking more loans but by setting up industries, by increasing exports, by adopting a tax culture. Even with sixteen percent tax to GDP, we are not getting enough We don’t see any action on how the costs will be reduced.The demand of the federation is that if they are imposing so much revenue on us, then the government should reduce its expenses to 4.33 percent of tax to GDP. The interest rate in the region is up to seven percent. Please be assured that the interest rate will not be more than twelve percent next year. Thirteen trillion tax will be given by the business community, but the government will have to make important decisions. If agricultural land is a provincial matter, then the federal usher system should be adopted.
On this occasion, Pattern Chief UB SM Tanveer, Senior Vice President Saqib Fayyaz Magu, Vice Presidents Zaki Ejaz, Tariq Jadoon, Aoun Ali Syed, Chairman Capital Office Karim Aziz Malik, Chairman Coordination Malik Sohail Hussain, Mian Zahid Hussain, Ahmed Jawad, Habibullah Zahid and others were also present.
