Need for widening tax net stressed

Our Staff Reporter SIALKOT - Acting President Federation of Pakistan Chambers and Commerce and Industry (FPCCI) Fazle Elahi said that despite several constrain, the business community helped the government in achieving exports worth $26 billion during 2010-11 against the set target of $20 billion. Speaking as chief guest at the 33 annual general meeting (AGM) of Pakistan Gloves Manufacturers and Exporters Association (PGMEA), he said that the business community was committed to playing due role for brining the country out of economic slump and to put the economic sector in right direction. Its unfortunate that the business community was shifting its business to Bangala Dash, Canada, Sri Lanka and South Africa due to uncertainty and unstable political situation and law and order situation in the country, he said. The acting FPCCI President expressed his fears that deteriorating law and order situation had forced the business community to shift their business to other countries, adding that the foreign investors were reluctant to invest in Pakistan due deteriorated law and order situation. Apart from this, electricity and gas loadshedding, kidnapping and mismanagement of Pakistan Railways hindering the overall business activities in the country but the government had failed to address the issues, he added. Fazle Elahi said that taxpayers were being made scapegoat by imposing more taxes on them, adding that its unjust and unfair for imposing more taxes on taxpayers. The government should refrain from this practice and concerned department should make strenuous efforts to bring tax dodgers into into the tax net, he added. The FPCCI acting President assured the business community of Sialkot that their problems and difficulties would be resolved on top priority basis. Speaking on the occasion, newly elected PGMEA Chairman Sarfraz Bhatti said that Pakistan was passing through a critical period as result of which every sector of business was on the decline. The business community was under great mental stress and psychological patients due to worst electricity loadshedding, he said. Sarfraz further said that leather industry was confronting with multiple problems due to non-availability of leather and smuggling of animals to different neighbouring countries. All out efforts would be made for resolving the problems of gloves industry aimed at keeping the economic wheel in full motion, he added. Addressing the AGM outgoing Chairman Muhammad Younas informed that export of gloves during 2010-11 was registered at $300 million as compared to previous years $215 million. The business community achieved the target despite certain internal problems like electricity loadshedding and worst law and order situation in the country, he argued.

ePaper - Nawaiwaqt