ISLAMABAD: The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) urged the government for imposing income tax on sectors enjoying unjust exemptions in the upcoming budget.
Vice President, FPCCI, Mirza Abdul Rehman while speaking to business community here on Tuesday said that tax regime should be balanced as presently business community and salaries class is bearing the entire burden while many sectors are exempted which is a hurdle in the national development.
"We will have no future sans effective governance, transparent reforms and easily comprehensible taxation regime, he added.
The country will remain dependent on foreign aid unless all the sectors, especially agriculture and defaulters are brought into tax net, he added.
He also urged for abolishing all the duties on import of pharmaceutical machinery and raw materials to give a boost to the local industry and enable it to compete with other countries in the global market.
Energy scarcity has crippled the economy which should be taken as challenge in the next fiscal otherwise its impact on masses and economy will become unendurable, he remarked.
He also urged the government for reducing non-developmental expenditure and start building dams to resolve energy crisis and tackle unemployment inn the country.
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