Chairman, Lahore Chamber of Commerce and Industry's (LCCI) Standing Committee on Halal Food, Nasib Ahmad Saifi, while welcoming the PML-victory in 2013 elections has expressed the hope that it will help making environment conducive for industrial sector especially export-oriented sectors to bring in prosperity in the country and creating job opportunities for the masses.
However, Saifi said that rumours that the incoming government intends to enhance the rate of sales tax from present 16 percent to 17 percent will put additional burden not only on the industrial and manufacturing sector but also on the masses who are already leading a very miserable life due to prevailing price spiral. In a statement issued here on Sunday he said that the incoming government should instead work on simplifying the sales tax system, With Holding Tax on Export and abolishing the unnecessary exemptions.
He was of the view that Nawaz Sharif government should not take weak decision like enhancing the rate of sales tax to 17 percent as people cannot bear the brunt of it in the prevailing circumstances. He was also of the view that proposal of levying income tax on electricity bill was unconstitutional as tax could not be collected through any such medium which is not considered as income. He also opposed the idea of levying tax on different daily use items such as sugar, milk etcs.-PR
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