KARACHI – FPCCI’s proposals are under consideration and these proposals will be raised in the forum of the National Assembly. The country’s economy is growing and the exports have reached 31 billion dollars. Despite the coronavirus, the Federal Board of Revenue has collected four thousand seven hundred and thirty-two billion rupees; as the government implemented smart lockdowns when needed and enforced SOPs effectively to control the pandemic. These remarks were made by Mr. Farrukh Habib, Minister of State for Information & Broadcasting, in a meeting with FPCCI’s Regional Chairman Chaudhry Muhammad Saleem Bhullar and PTI’s senior leader Raja Muhammad Saleem.
Mr. Farrukh Habib further said that the development work is underway to build several dams and vast water reservoirs in the country. These measures will increase the water storage capacity and also offer an inexpensive source of power supply.
Chaudhry Muhammad Saleem Bhullar pointed out that there are more than one and a half crore commercial electricity connections in the country and they should be included in the tax net. The current tax system is not sustainable for future generations; with only one percent of the population carrying the burden of the entire state. He further added that out of 220 million people of the country, less than 2 million people file tax returns, and more than 85% of tax is paid by 300 companies of the country; whereas, more than 75% of tax is being collected from the manufacturing sector alone. This results in the manufacturing sector and industrial sectors being severely affected.
Mr. Saleem Bhullar added that due to many loopholes in the policies, harassment, and corruption, the business community is reluctant to enter the tax net.
