Lahore, June 14, 2013 (PPI-OT): Pakistan Industrial and Traders Association Front (PIAF) has demanded of the government to withdraw 1% increase in General Sales Tax as it would dissipate the impact of other good measures taken in the federal budget.
In a press statement issued here Friday, Acting Chairman PIAF Khamis Saeed Butt said that 1% increase in General Sales tax would futher jackup the rate of inflation.
He said that General Sales Tax has been increase at a time when all the businesses were facing multiple challenges and were fast heading towards default. 17% General Sales Tax would not only further increase the prices of essential commodities but would also be putting extra pressures on already taxed people.
He urged the government to put off decision 1% increase in General Sales Tax and let the economy come out of woods otherwise the economic situation would further aggravate and hence creating trouble for the government.
How the trade and industry would be able to cope with the situation when they were facing troubles in paying even their banking dues because of high cost of inputs and unavailability of electricity and gas, he said.
He said that the government should chalk out a medium-term plan for the support of economy and to give impetus to business activities in the country and for the purpose it should immediately convene a roundtable of all the stakeholders.
For more information, Contact:
Pakistan Industrial and Traders Associations Front
110/s Kot Lakhpat Industrial Estate
Phone: (92) 42 5123522
Fax: (92) 42 5123522