lahore -


Muthidda Qaumi Movement Deputy Convener Dr Farooq Sattar has said that direct taxes system will be implemented in letter and spirit if MQM comes in power while sales taxes will be reduced to 12 percent and machinery will be exempted from import duty to facilitate industry.
While presenting MQM economic agenda at Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Regional Office here on Saturday Farooq Sattar said that country is facing 3 major problems. First is economic crunch, 2nd is terrorism and third is Balochistan issue.
He said that Thar coal reservoirs are great assets of Pakistan; we can generate surplus electricity to utilise them. He announced to solve energy crisis in one year however we have to stop other expenditures. He emphasised to unite the nation on one-point agenda to resolve the energy crisis. He said we cannot implement more taxes on the existing tax payers. This policy may not be in favour of the industrialists and investors so we have to extend the tax net.
 He informed the house that we can enhance our exports to strengthen our SMEs and cottage industry. Our exports volume is going down because we are exporting raw materials instead of value added products. We are also damaging our industry to export raw materials, he added.  While presenting his welcome address Azhar Saeed Butt, Chairman FPCCI Punjab Region said that business community is facing tough time due to worst load shedding and poor law and order situation.
 Industries are being closed or shifted from country due to energy crisis, he added and said energy is basic requirement of industries but unfortunately past government has failed to provide the electricity to industries. He pointed out that country is rich in resources but unfortunately policy makers have failed to bring them into system. All major departments like WAPDA, PIA, Railways, and others are at nose dive position.
He also criticized taxation system and demanded change in taxation system and said implementation of SROs is creating unrest among business community. He urged Federal Board of Revenue (FBR) to change its tax collecting system and demanded to make it simple. Mr. Butt emphasized that business community will support only those parties which will present solid agenda to strengthen the economic situation and resolve the issues of the business community.