Last update: Fri, 20 Jan 2017 06am
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POL products: government urged to withdraw GST

The business community of Southern Punjab has urged upon the PML-N government to withdraw 45 percent General sales tax and Petroleum levy on the POL products forthwith and pass on the benefit of reduction in the prices of petroleum products in international market.

President of Multan Chamber of Commerce and Industry (MCCI) Mian Iqbal Hassan said that reduction in POL price would lead to further cut in inflation rate and improve people's purchasing power. He further said the step might also reduce the cost of energy which would be proved helpful to the government to control the present energy crisis in the country.

Mian Iqbal Hassan said that the tax payers all over the world always were honoured but in Pakistan the tax payers were being victimised and harassed consequently tax collectors were failed to meet the revenue targets. He emphasised the need for broadening the tax net which is the ultimate solution to enhancing tax revenue to exchequer rather the Federal Board of Revenue (FBR) is putting pressure on the existing tax payers who are already under burdened of heavy tax rates. He said that every Pakistan was in the grip of indirect taxation.

All the countrymen including beggars were paying tax on Phone calls, Phone recharge, all daily use items, utility bills and eatables. He said that Pakistan-China friendship is time tested and both have a big volume of bilateral trade though the share of Pakistan's exports is not significant as compared to imports from China yet there are still many business opportunities available for increasing Pakistan's exports. He hoped that soap industry would be benefited with Pak-China trade.

Copyright Business Recorder, 2015