Talks with traders underway to bring positive results: Hafeez Shaikh
ISLAMABAD: Prime Minister’s Adviser on Finance Abdul Hafeez Shaikh on Tuesday said talks with traders were underway to bring positive results.
Talking to media in Islamabad, Abdul Hafeez Shaikh said economic growth of the country was not possible without the support of traders.
He said above three million traders were not part paying tax, therefore, efforts were being made to bring them in the tax net to divide the economic burden.
“We want that tax burden is not put on few people, however all those who are earning too much money should pay taxes,” he said.
Also Read: Traders observe two-day strike in Pakistan
The PM’s adviser on finance said exports had picked up as the government’s priority was to increase exports and create ease of doing business.
“Economic improvement can only be possible through help of traders,” he said.
He also said that the World Bank had praised the efforts made by Pakistan in economic sector.
Trader associations of Pakistan is observing a two-day strike — on October 29 and 30– across the country to protest ‘massive taxes’ imposed by the government.
The strike was announced by the Central General Secretary Naeem Mir of All Pakistan Anjuman-e-Tajran (APAT) while addressing a press conference at Lahore Press Club.
He said that the reason for the strike is the imposition of unjustified 17% sales tax, turn over tax, CNIC-bases invoicing system had made difficult for the traders to run the business.
The nationwide strike by the traders have been favored by the Islamabad, Rawalpindi, Lahore, Faisalabad and Karachi Chambers of Commerce & Industry.
The charter of demands for the two-day strike included:
- The abolition of the condition to submit CNIC
- Restoration of the 1.2 million rupees income limit for income tax
- Announcement of fixed tax scheme for traders
- Stoppage of actions by Pakistan Telecommunication Authority for the registration of mobile phones
- Restoration of the old property tax system
- Stoppage of the imposition of penalties by different institutions and the collection of professional tax from professionals and organizations
- Reduction in trade tax