KARACHI - Speakers at the meeting of Shura Hamdard Karachi chapter urged the government to make the coming national budget 2015-16 people friendly as the masses are already under the burden of high prices of daily use commodities.
The meeting that held on the theme: “National Budget 2015-16 and public expectation” was presided over by Justice (Rtd) Haziqul Khairi. Speaking on the occasion, renowned economist Dr. Shahid Hassan Siddiqui said that Pakistan was legged behind in collecting taxes than seven other Asian countries. There was a powerful group in Pakistan which didn’t allow to tax agricultural income and documentation of economy in the country. Income more than five hundred thousands rupees should be taxed and ratio of General Sales Tax (GST) is fixed not more than 5 per cent, he suggested. Making further recommendations about the coming national budget, he said that using information technology those assets should be unearthed that have been made through wrongful means and kept secret from the eyes of income tax officials and be taxed heavily. He suggested 7pc for education, 2pc for health and 5.5pc for developing expenditure be allocated in coming national budget, and further said that 80 per cent finance of Benazir Income Support should be allocated to micro finance and the policy of making a cut off in interest rate of banks be changed and banking spread be limited up to 3.5 per cent.
He said, the performance of agricultural and live stock sectors remained distressing for the last several years and their shares in national production were Rs600 billion, it could be increased to Rs50,000 billion if adequate planning be chalked out for their developments.
Zafar Iqbal, President, Association of Small and Medium Size Enterprises (SAMEA) while giving the budget recommendations said that small and medium size enterprises are the engine and backbone of country’s economy, having 40pc in GDP and consisting of small and medium size industrial and trading units, involving 80pc labour force of the country and progress of this sector was tantamount to the progress of the country. Government should encourage and provide more and more facilities to this sector in order to give boost to the country’s economy, he added.
Mrs. Sadia Rashid, President, Hamdard Foundation Pakistan said that national senses should be conducted in order to make it clear how many population and resources country have and what can be done to meet the requirement of the people.
Commodore (Rtd) Sadeed Anwar Malik, Haq Nawaz Akhtar, former Chairman, Pakistan Steel Mills, Dr. Abubakar Sheikh Prof. Mohammed Rafi, Khalid Ikramullah Khan, Col (Rtd) Mukhtar Ahmed Butt and Anwar Aziz Jakartawalla also spoke.
Shura in a unanimous resolution condoled the deaths of its member, Syed Mustafa Ali Brelvi, Shia Ismailis at Safora Chowrangi and Natlar air accident in KPK.