Lahore, April 08, 2013 (PPI-OT): Pakistan Industrial and Traders Associations Front (PIAF) on Monday took strong exception to the Federal Board of Revenue (FBR) for its silence over repeated business community demands for withdrawal of anti-business SROs 89(I) 2013 and 140(I) 2013.
The PIAF Chairman Malik Tahir Javaid was speaking at PIAF Executive Committee meeting held here at a local hotel. PIAF Senior Vice Chairman Amjad Ali Jawa, Vice Chairman Khamis Saeed Butt, LCCI Senior Vice President Irfan Iqbal Sheikh and Vice President Mian Abuzar Shad also spoke on the occasion.
The Chairman PIAF said that issuance of SROs at these challenging times is a conspiracy against the economy therefore the Caretaker Prime Minister should take notice of FBR activities.
The PIAF Chairman said that the Federal Board of Revenue knew well about delays in refunds due to cumbersome procedures and instead of taking corrective measures, it is doing the other way round thus creating multiple problems for the business community.
He said that the PIAF would continue to oppose all SROs that are against the smooth running of businesses as these SROs are bound to open the floodgates of corruption besides creating liquidity crunch for businesses.
He said that the business community was unable to understand the logic behind issuance of such SROs at a time the economy was already facing different types of pressures and internal and external challenges.
He suggested to the Chairman FBR to focus on expansion of tax net by bringing the untaxed sectors into the tax net to meet the revenue target instead of burdening the existing tax payers by increasing rate of taxes.
He said that all over the world exports are tax free for being foreign exchange earner while in Pakistan, the exporting sectors are being taxed to generate revenue.
He said that the economy would remain under pressure until and unless all segments of the society work in unison as the country needs a growth of above seven per cent for next eight to ten years to bring down the graph of unemployment and to win foreign direct investment.
The PIAF Chairman also appealed to the Caretaker Prime Minister to look into the energy sector as power outages are destroying the economic activities in the country.
For more information, Contact:
Pakistan Industrial and Traders Associations Front
110/s Kot Lakhpat Industrial Estate
Phone: (92) 42 5123522
Fax: (92) 42 5123522