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Islamabad Chamber of Small Traders (ICST) on Wednesday said the previous government of PML-N is responsible for the economic mess and hoped that this government will salvage the sinking economy.
The former government of PML-N is guilty of rampant inflation, increasing debt, devaluation of local currency, eroding forex reserves and uncertainty that has been damaging the economy, it said.
The PTI government is trying hard to resolve the problems but it should expedite the process of decision making to soothe the business community, said Patron ICST Shahid Rasheed Butt.
Business community trusts PTI to turn around the economy which is in a crisis, revitalise growth and overcome chronic energy shortage that had crippled businesses.
He said that tax collection should be improved by taking all the stakeholders into confidence as the shortfall has jumped to Rs170 billion necessitating a mini-budget.
The government is pinning hopes on a mini-budget to be delivered in the upcoming session of parliament in which minimum burden should be transferred on the masses reeling under problems, he added.
Shahid Rasheed Butt said that rich should be targeted in the second mini-budget of the government and duties should be revised on non-essential imports.
The government should avoid indirect taxation to raise the revenue like the previous PML-N government which contributed to the poverty, he advised.
The business leader said that reduction in expenditures should no longer remain symbolic, poor should be shielded and the cost of doing business in the country should be reduced to attract local and foreign investment.
The government should go after the rich tax evaders who have always dodged their taxes rather than continuing to hit the salaried class and poor, he demanded.
Source
The former government of PML-N is guilty of rampant inflation, increasing debt, devaluation of local currency, eroding forex reserves and uncertainty that has been damaging the economy, it said.
The PTI government is trying hard to resolve the problems but it should expedite the process of decision making to soothe the business community, said Patron ICST Shahid Rasheed Butt.
Business community trusts PTI to turn around the economy which is in a crisis, revitalise growth and overcome chronic energy shortage that had crippled businesses.
He said that tax collection should be improved by taking all the stakeholders into confidence as the shortfall has jumped to Rs170 billion necessitating a mini-budget.
The government is pinning hopes on a mini-budget to be delivered in the upcoming session of parliament in which minimum burden should be transferred on the masses reeling under problems, he added.
Shahid Rasheed Butt said that rich should be targeted in the second mini-budget of the government and duties should be revised on non-essential imports.
The government should avoid indirect taxation to raise the revenue like the previous PML-N government which contributed to the poverty, he advised.
The business leader said that reduction in expenditures should no longer remain symbolic, poor should be shielded and the cost of doing business in the country should be reduced to attract local and foreign investment.
The government should go after the rich tax evaders who have always dodged their taxes rather than continuing to hit the salaried class and poor, he demanded.
Source
