Import duty on eatable, luxury items raised by up to 50pc

[Mrc]

Wont solve the trade deficit.

But will reduce it...should have been done last year

Also imported stuff is used by people who don't care and can buy regardless...

If it was for me I would also impose soon tax on cigarettes pan energy drinks like saudia ... 200 % .... cigarettes are too cheap in Pakistan and it's a filthy habit...
Labourer don't use energy drinks... burgers do... that's some thing to tax

Coke Pepsi all unhealthy drinks... imported alcohol... when imported legally... complete and utter wastes like cosmetics.. clothing... toys etc should be hit and local production encouraged

 

[Thorough Pro]

Protecting our industry from import on non-essential items that are produced in the country.

pmln simplest way to pay debt........ this is economic anarchy...

 

[Arsalan]

bro i would happily accept this increase had they be providing us with the quality local substitute for the products they are taxing but that is not the case.

Sir that is something that WE will need to do. The business community, the industry people. They need to understand their responsibility as well.

Many people find employment in places where you discussed your radical measures. First make local industries which can produce quality products then do whatever you wish with it. If it all for Pakistan first tax tea, a non essential which contributes to a large number of our imports. Do read my posts on this thread.

https://defence.pk/pdf/threads/impo...ised-by-up-to-50pc.523815/page-2#post-9950509

@Gufi everything CANNOT be done by government. All they need to do is to provide friendly environment to those certain business so locals can take over the task and start producing such products here at home. The business community, the industry people and the consumers, ALL HAVE TO UNDERSTAND THEIR RESPONSIBILITY TOO.

 

[kshaib]

CHECK........TAXES IN CANADA.......... YOU WILL SUPRISE......MUCH OF ITEMS PAY TAX.....EX....COFFEE ETC.......SOME OF HIDDEN TAX.... PEOPLE DONNOT KNOW..... IF THERE ISBO TAX COUNTRY CANNOT SURIVE.....THERE WILL BE NO PROGRESS.......REST YOU CAN JUDGE.....????????????????,

 

[Gufi]

@Gufi everything CANNOT be done by government. All they need to do is to provide friendly environment to those certain business so locals can take over the task and start producing such products here at home. The business community, the industry people and the consumers, ALL HAVE TO UNDERSTAND THEIR RESPONSIBILITY TOO.

detailed answer later but first this article
https://tribune.com.pk/story/1535260/lcci-slams-fbr-slapping-duty-without-consultation/
secondly the government has to lay frame works which provide consistency which they are unable to do. That is what is lacking for many international investors to partake in investing. Also the wheat thing yes, the government is directly responsible for ruining our agricultural economy, not taking taxes properly and not implementing the rule of law. A larger tax base would have reduced our budget deficit and the loans wouldnt be needed to balance our budget, and could go towards proper projects to actually attract investors.
Industry and business community have roles to play, but to implement proper tax collection is the root of all problems, direct taxes not being present makes indirect taxes the norm and those who wish to work honestly in the system get shafted and leave. To provide stability, an equal open marketplace, with reduced red tape, is what is needed and none of it is done. And the Government has to monitor and move businessmen to produce imported products in Pakistan, I am sure if Indus Motors was given a deadline for a percentage of its products allowed to be imported, a practical one like 5 years they could reduce the number of imported parts even further.

@Arsalan a lot needs to be done other then indirect taxes, and only when we do that will our economy grow properly. If you can afford a proper house and have no tax return, why are you not audited. If you have a non filer payment for a City or a Corolla and above, why are you not audited. The number of homes in our cities, the number of cars on our roads, and our tax returns are near nothing. A strong Government can bring change, and only a strong Government can do that. Forget the larger issues like PIA and Pakistan Steel mills being in need of major reforms and being in essence black holes for money, useless projects like Orange train, or massive excesses in spending by certain branches of the government which are yet to be tackled. Reduce the deficit with these policy reforms, after that add more taxes. We are a nation of donkeys, the more you load the more we are like oh no more can be done by me yet while the state is dead.

For a look into what excessive taxes does Arsalan take a look at the stock exchange and what has happened after the latest tax hikes. You tax a company, then tax its dividend, then again tax the reciever of said dividend, tax the sale and purchase more every year till there was no profit left for the investor and he said Screw it and walked away. Tax agricultural feudal lords first maybe also with the rest.

 

[Kambojaric]

But will reduce it...should have been done last year

Also imported stuff is used by people who don't care and can buy regardless...

If it was for me I would also impose soon tax on cigarettes pan energy drinks like saudia ... 200 % .... cigarettes are too cheap in Pakistan and it's a filthy habit...
Labourer don't use energy drinks... burgers do... that's some thing to tax

Coke Pepsi all unhealthy drinks... imported alcohol... when imported legally... complete and utter wastes like cosmetics.. clothing... toys etc should be hit and local production encouraged

Will reduce it no doubt, but a long term strategy is required including a devaluation of the rupee. Our exports have fallen from $28.3bn to $20.5bn between 2014 and 2016, whilst imports have largely remained stagnant ($1bn decrease roughly in the same time period). The far bigger threat to the deficit is hence the extremely large drop in exports. However the rupee is artificially being overvalued to score political brownie points by the incumbent government, all whilst Pakistani products increasingly become less competitive on the global market.

 

[S.Y.A]

I am sure if Indus Motors was given a deadline for a percentage of its products allowed to be imported, a practical one like 5 years they could reduce the number of imported parts even further.

It has been nearly three decades since they first started assembling vehicles here, and still they are importing the major components, no localisation done at all, the successive govt's auto policy has been crap. and as you rightly mentioned, no cash crops are being grown, we are not exporting value added goods, one such example is the textile industry where majority of our textile export consists of yarn I mean what the hell?! This is an agricultural country, and we are still importing dairy and agricultural goods from abroad. It has been 7 decades since the creation of Pakistan and we are yet to produce quality cosmetics, perfumes etc.

One member here posted about Bhutto's nationalization's impact on our economy. A very depressing read, since then no company, local or multinational has invested so much or taken an initiative in any field in Pakistan, like for example Batal Engg Corp.

Also, read somewhere that Ibne Khaldun said that in the beginning taxes were low, and revenues high, towards the end revenues were low and taxes were high. I do hope that we survive.

 

[Talwar e Pakistan]

Congratz to all Noothiyas, another achievement by the experienced team, start taxing food as well to make sure that people starve to death before their term ends.

Pakistan is self-sufficient when it comes to food, almost all Pakistanis eat Pakistani food. The Government taxed food imports, which are probably used by 2-3% of the population who can live without these imports.

 

[VCheng]

This is an agricultural country, and we are still importing dairy and agricultural goods from abroad.

Dairy imports in the 4th largest milk producer in the world is bizarre indeed:

http://www.trendingtopmost.com/worl...world/largest-milk-producing-countries-world/

 

[Imad.Khan]

Dairy imports in the 4th largest milk producer in the world is bizarre indeed:

http://www.trendingtopmost.com/worl...world/largest-milk-producing-countries-world/

The reason for that is we don't have adequate storage facilities for milk, plus in Pakistan we don't use milk to produce cheeses and we don't have equipment to convert milk to powdered milk, thats why so much milk is wasted and we have to import dairy products.

 

[VCheng]

The reason for that is we don't have adequate storage facilities for milk, plus in Pakistan we don't use milk to produce cheeses and we don't have equipment to convert milk to powdered milk, thats why so much milk is wasted and we have to import dairy products.

That is sad, since dairy plants with downstream products are very easy to set up and run, relative to other industries.

 

[Imad.Khan]

That is sad, since dairy plants with downstream products are very easy to set up and run, relative to other industries.

Thats true, here in Australia, dairy farmers join up and make co-op companies that produces dairy products, so instead of just making some money from selling milk they get more bang for the buck by making & selling other dairy products like

1. Yogurt
2. Variety of Cheeses
3. Sour Creams
4. Thickened Creams
5. Butter
6. Powered Milk
7. Ice-Creams
8. Milk Shakes
9. Baby formulas
10. Flavoured milk for kids
11. Long life milk or as they say in Pakistan Tetra Pack Milk

 

[Gufi]

Also, read somewhere that Ibne Khaldun said that in the beginning taxes were low, and revenues high, towards the end revenues were low and taxes were high. I do hope that we survive.

we need to tax income, where ever it is coming from. The stupidity of indirect taxes stems from the inability to properly tax the ones who have money and are hiding it or not declaring it while living lavish life styles. If some earns 1 carore from his agriculture we can not tax it but we tax a person earning 40000 per month.

 

[S.Y.A]

we need to tax income, where ever it is coming from. The stupidity of indirect taxes stems from the inability to properly tax the ones who have money and are hiding it or not declaring it while living lavish life styles. If some earns 1 carore from his agriculture we can not tax it but we tax a person earning 40000 per month.

no, we are only able to tax a person who is employed by a company/organization. nobody even taxes individuals earning even that much, whether it is through careem/uber or private tuition or a small restaurant. undocumented economy is booming in Pakistan, and God forbid if someone tried to regulate shopkeepers, transporters etc. all hell will break loose.

That is sad, since dairy plants with downstream products are very easy to set up and run, relative to other industries.

I gave the idea of setting up a powdered milk plant to a friend of mine whose family owned a huge dairy farm, he just laughed it off. told him that his family needs to think big, exports and stuff. people who came from nothing were able to set up business empires because they had a vision. people like these have all the resources available, but lack vision.

That is sad, since dairy plants with downstream products are very easy to set up and run, relative to other industries.

if the govt and the dairy farm owners have a little bit of sense, they will try to tap into this market.
govt owned companies like PMTF and PECO can make processing plants(with or without foreign or local private JV) for cheese, powdered milk, butter etc. and the owners can buy them and use them.
loads of money saved(by producing in house and not importing), loads of money put in circulation(raw material, selling of end goods), loads of employment opportunities created.

and this is what we need for our agricultural needs:

http://www.bbc.com/future/story/20170405-how-vertical-farming-reinvents-agriculture

we are forced to import vegetables and fruits, we are running out of water, we are running right into the center of a disaster. vertical farming may be the solution to most of our problems.

 

[Zibago]

95% of Pakistanis do not eat imported food. Use brain before posting.

Wrong

are you kidding me... what facts and figures are you using for that other then idiocy

He doesnot live in Pakistan so expect some lunacy from his side its because of idiots like him half the population is forced to spend 50% of their earning on food

Not a bad move in my opinion as long as there is a clear cut list of products that will face increased duties. In my opinion, gov. should further increase the tax by 200% on non-essentials (like cigarettes, imported eatable products and juices etc). Saying that people will die of starvation because duty or tax on cheese have been increased is absurd. Make the non-essentials expensive and use that income to make essential products cheaper. Easier said than done but still i line of action i think.

Sir jee chai ki patti aur olper ka dabba bhi mehnga ho gaya hy